View Filing Data

2,570

122

Undesignated preferred stock, $0.001 par value; 25,000,000 and no shares authorized as of September 30, 2019 and December 31, 2018; no shares issued and outstanding as of September 30, 2019 and December 31, 2018

Common stock, $0.001 par value; 500,000,000 and 97,412,870 shares authorized as of September 30, 2019 and December 31, 2018; 117,359,502 and 92,057,704 shares issued and outstanding as of September 30, 2019 and December 31, 2018

117

Additional paid-in capital

826,062

494,231

Accumulated other comprehensive income

152

(366,573)

(179,444)

459,758

314,879

Noncontrolling interests

61,939

62,361

Total liabilities, redeemable convertible noncontrolling interests and stockholders’ equity

521,697

377,240

^[1]

$ 640,530

$ 464,941

[1]

The consolidated balances as of December 31, 2018 are derived from the audited consolidated financial statements as of that date and were retroactively adjusted, including shares and per share amounts, as a result of the Reorganization. See Note 3 to the condensed consolidated financial statements for additional details.

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	25,000,000	0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	97,412,870
Common stock, shares issued	117,359,502	92,057,704
Common stock, shares outstanding	117,359,502	92,057,704

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
License revenue	$ 26,741		$ 26,741
Revenue from Contract with Customer, Product and Service [Extensible List]	us-gaap:LicenseMember	us-gaap:LicenseMember	us-gaap:LicenseMember	us-gaap:LicenseMember
Operating expenses:
Cost of license revenue	$ 2,500		$ 2,500
Research and development	55,278	$ 31,148	152,462	$ 88,871
General and administrative	23,495	10,308	59,381	29,206
Total operating expenses	81,273	41,456	214,343	118,077
Loss from operations	(54,532)	(41,456)	(187,602)	(118,077)
Other income (expense), net:
Interest income	2,736	528	6,505	531
Interest expense	(2,113)	(1,156)	(5,725)	(1,368)
Loss from ML Bio asset acquisition	(416)		(416)
Loss from PellePharm	(6,589)		(16,144)
LEO call option income (expense)	276		(1,012)
Other income (expense)	(26)	6	(40)	(1,296)
Total other income (expense), net	(6,132)	(622)	(16,832)	(2,133)
Net loss	(60,664)	(42,078)	(204,434)	(120,210)
Net loss attributable to redeemable convertible noncontrolling interests and noncontrolling interests	684	10,677	17,305	28,102
Net loss attributable to common stockholders of BridgeBio	$ (59,980)	$ (31,401)	$ (187,129)	$ (92,108)
Net loss per share, basic and diluted	$ (0.51)	$ (0.52)	$ (1.86)	$ (1.60)
Weighted-average shares used in computing net loss per share, basic and diluted	117,071,188	60,950,572	100,855,481	57,437,408

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (60,664)	$ (42,078)	$ (204,434)	$ (120,210)
Other comprehensive income:
Unrealized gain on available-for-sale securities	152		152
Comprehensive loss	$ (60,512)	$ (42,078)	$ (204,282)	$ (120,210)

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
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-Paragraph 1A
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591551-111686

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 2
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4569616-111683

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
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-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591552-111686

+ Details

Condensed Consolidated Statements of Redeemable Convertible Noncontrolling Interests and Stockholders' Equity - USD ($)
$ in Thousands

Total

Common Stock

Additional Paid-In Capital

Accumulated Other Comprehensive Income

Accumulated Deficit

Total Bridge Bio Stockholders' Equity

Noncontrolling Interests

Redeemable Convertible Noncontrolling Interests

Temporary equity, beginning balance at Dec. 31, 2017

^[1]

$ 833

15,617

(11,286)

Temporary equity, ending balance at Mar. 31, 2018

(3,614)

1,550

Beginning balance at Dec. 31, 2017

^[1]

$ 88,349

$ 51

$ 134,495

$ (48,695)

$ 85,851

$ 2,498

Beginning balance, shares at Dec. 31, 2017

^[1]

51,314,794

Issuance and vesting of restricted common stock and associated equity-based compensation expense

322

$ 1

321

322

Issuance and vesting of restricted common stock and associated equity-based compensation expense, shares

449,371

553

11,286

3,876

7,410

Ending balance at Mar. 31, 2018

(38,816)

(34,156)

(4,660)

61,694

$ 52

138,692

(82,851)

55,893

5,801

Ending balance, shares at Mar. 31, 2018

51,764,165

46,710

(41,450)

Temporary equity, ending balance at Jun. 30, 2018

(3,618)

3,192

Issuance and vesting of restricted common stock and associated equity-based compensation expense

325

Issuance and vesting of restricted common stock and associated equity-based compensation expense, shares

450,775

Issuance of common stock, net of issuance costs

36,300

$ 8

36,292

36,300

Issuance of common stock, net of issuance costs, shares

8,455,861

96,689

41,450

56,182

(14,732)

Ending balance at Jun. 30, 2018

(32,084)

(26,551)

(5,533)

204,374

$ 60

231,491

(109,402)

122,149

82,225

Ending balance, shares at Jun. 30, 2018

60,670,801

Temporary equity, ending balance at Sep. 30, 2018

(2,355)

912

Issuance and vesting of restricted common stock and associated equity-based compensation expense

326

$ 1

325

326

Issuance and vesting of restricted common stock and associated equity-based compensation expense, shares

451,560

974

(75)

(2,253)

2,178

Ending balance at Sep. 30, 2018

(39,723)

(31,401)

(8,322)

165,876

$ 61

229,563

(140,803)

88,821

77,055

Ending balance, shares at Sep. 30, 2018

61,122,361

Temporary equity, beginning balance at Dec. 31, 2018

122

^[2]

870

Temporary equity, ending balance at Mar. 31, 2019

(790)

202

Beginning balance at Dec. 31, 2018

^[2]

377,240

$ 92

494,231

(179,444)

314,879

62,361

Beginning balance, shares at Dec. 31, 2018

^[2]

92,057,704

Issuance and vesting of restricted common stock and associated equity-based compensation expense

1,236

$ 1

1,235

1,236

Issuance and vesting of restricted common stock and associated equity-based compensation expense, shares

518,511

Repayment of nonrecourse notes

179

1,320

(870)

(2,968)

2,098

Ending balance at Mar. 31, 2019

(68,646)

(61,185)

(7,461)

310,459

$ 93

492,677

(240,629)

252,141

58,318

Ending balance, shares at Mar. 31, 2019

92,576,215

Temporary equity, beginning balance at Dec. 31, 2018

122

^[2]

Temporary equity, ending balance at Sep. 30, 2019

2,570

Beginning balance at Dec. 31, 2018

^[2]

377,240

$ 92

494,231

(179,444)

314,879

62,361

Beginning balance, shares at Dec. 31, 2018

^[2]

92,057,704

Unrealized gain on available-for-sale securities

152

Ending balance at Sep. 30, 2019

521,697

$ 117

826,062

$ 152

(366,573)

459,758

61,939

Ending balance, shares at Sep. 30, 2019

117,359,502

Temporary equity, beginning balance at Mar. 31, 2019

202

658

Temporary equity, ending balance at Jun. 30, 2019

(685)

175

Beginning balance at Mar. 31, 2019

310,459

$ 93

492,677

(240,629)

252,141

58,318

Beginning balance, shares at Mar. 31, 2019

92,576,215

Issuance and vesting of restricted common stock and associated equity-based compensation expense

2,119

Issuance and vesting of restricted common stock and associated equity-based compensation expense, shares

604,144

Equity-based compensation expense

(27,024)

(658)

(25,440)

24,782

Ending balance at Jun. 30, 2019

(73,649)

(65,964)

(7,685)

211,316

$ 93

469,425

(306,593)

162,925

48,391

Ending balance, shares at Jun. 30, 2019

93,180,359

3,196

(166)

Temporary equity, ending balance at Sep. 30, 2019

(635)

2,570

$ 2,570

Issuance and vesting of restricted common stock and associated equity-based compensation expense

2,120

Issuance and vesting of restricted common stock and associated equity-based compensation expense, shares

604,143

Equity-based compensation expense related to stock option plan

1,554

Equity-based compensation expense related to employee stock ownership plan

279

Issuance of common stock, net of issuance costs

366,237

$ 24

366,213

366,237

Issuance of common stock, net of issuance costs, shares

23,575,000

(98)

Unrealized gain on available-for-sale securities

166

(13,529)

13,695

152

Ending balance at Sep. 30, 2019

(60,029)

(59,980)

(49)

$ 521,697

$ 117

$ 826,062

$ 152

$ (366,573)

$ 459,758

$ 61,939

Ending balance, shares at Sep. 30, 2019

117,359,502

[1]	The consolidated balances as of December 31, 2017 are derived from the audited consolidated financial statements as of that date and were retroactively adjusted, including shares and per share amounts, as a result of the Reorganization. See Note 3 to the condensed consolidated financial statements for additional details.
[2]	The consolidated balances as of December 31, 2018 are derived from the audited consolidated financial statements as of that date and were retroactively adjusted, including shares and per share amounts, as a result of the Reorganization. See Note 3 to the condensed consolidated financial statements for additional details.

Condensed Consolidated Statements of Redeemable Convertible Noncontrolling Interests and Stockholders' Equity (Parenthetical) - Common Stock - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Jun. 30, 2018
Stock issuance costs		$ 0
Shares issued, price per share		$ 4.29
Initial Public Offering
Stock issuance costs	$ 34,538
Shares issued, price per share	$ 17.00

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Operating activities:
Net loss	$ (204,434)	$ (120,210)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	618	145
Net accretion and amortization of premium and discounts on marketable securities	(69)
Equity-based compensation	11,367	2,954
Loss on disposal of property and equipment, net	63	7
Loss from ML Bio asset acquisition	416
Loss from PellePharm	16,144
Accretion of term loans and convertible promissory notes	722	541
Acquired in-process research and development assets	3,560	17,886
Shares issued under license agreements	220	134
LEO call option expense	1,012
Change in fair value of Eidos financial instruments		1,146
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(12,541)	(11,661)
Other assets	(1,664)	129
Accounts payable	(3,239)	8,953
Accrued compensation and benefits	3,533	2,369
Accrued research and development liabilities	4,284	6,136
Other accrued liabilities	2,689	1,164
Other liabilities	(65)	78
Net cash used in operating activities	(177,384)	(90,229)
Investing activities
Purchases of marketable securities	(197,745)
Cash paid for in-process research and development assets acquired	(2,500)	(16,000)
Cash and cash equivalents acquired in ML Bio asset acquisition	784
Purchases of property and equipment	(891)	(1,437)
Net cash used in investing activities	(200,352)	(17,437)
Financing activities
Proceeds from issuance of common stock in connection with the initial public offering, net of underwriting discounts and commissions	366,237
Proceeds from issuance of noncontrolling interest to Alexion (Note 14)	23,309
Proceeds from issuance of promissory notes		1,000
Proceeds from repayment of nonrecourse notes	179
Proceeds from term loans, net of issuance costs	19,787	36,590
Proceeds from third-party investors in redeemable convertible noncontrolling interests	1,500	58,430
MyoKardia distributions (Note 15)	(997)
Repurchase of noncontrolling interest	(55,011)
Issuance of loan to noncontrolling interest shareholder		(22)
Repayment of term loans		(656)
Proceeds from subsidiary stock option exercises	884	196
Net cash provided by financing activities	355,888	227,374
Net increase (decrease) in cash, cash equivalents and restricted cash	(21,848)	119,708
Cash, cash equivalents and restricted cash at beginning of period	436,245	92,376
Cash, cash equivalents and restricted cash at end of period	414,397	212,084
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	4,336	718
Supplemental Disclosures of Non-Cash Investing and Financing Information:
Tenant improvement paid by landlord	959
Transfers to (from) noncontrolling interest (Note 8)	$ 41,937	57,805
Conversion of redeemable noncontrolling interest into noncontrolling interest		12,252
Conversion of promissory note into redeemable convertible noncontrolling interest		1,005
Fair value of redeemable convertible noncontrolling interest issued for acquired in-process research and development assets		1,886
Eidos
Financing activities
Proceeds from issuance of common stock		95,536
BridgeBio Pharma LLC
Financing activities
Proceeds from issuance of common stock		$ 36,300

Organization and Description of Business

9 Months Ended

Sep. 30, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization and Description of Business

1.	Organization and Description of Business

BridgeBio Pharma, Inc. (the “Corporation”) was formed as a Delaware corporation on May 17, 2019 for the purpose of completing an initial public offering of the Corporation’s common stock (the “IPO”) and related organizational transactions (the “Reorganization”) in order to carry on the business of BridgeBio Pharma LLC (“BBP LLC”). The Corporation, the reporting entity in these condensed consolidated financial statements, and BBP LLC, the predecessor reporting entity before the completion of the Reorganization and the Corporation’s wholly-owned subsidiary after the completion of the Reorganization, are collectively referred to as BridgeBio.

Since inception, BridgeBio has either created wholly-owned subsidiaries or has made investments in certain controlled entities, including partially-owned subsidiaries for which BridgeBio has a majority voting interest and variable interest entities (“VIEs”) for which BridgeBio is the primary beneficiary (collectively, the “Company”). BridgeBio is headquartered in Palo Alto, California.

BridgeBio was established to identify and advance transformative medicines to treat patients who suffer from Mendelian diseases, which are diseases that arise from defects in a single gene, and cancers with clear genetic drivers. BridgeBio’s pipeline of programs spans early discovery to late-stage development.

Reorganization and Initial Public Offering

On July 1, 2019, the Corporation closed the IPO of its common stock. As part of the IPO, the Corporation issued and sold 23,575,000 shares of its common stock, which included 3,075,000 shares sold pursuant to the exercise of the underwriters’ over-allotment option, at a public offering price of $17.00 per share. The Corporation received net proceeds of approximately $366.2 million from the IPO, after deducting underwriters’ discounts and commissions of $28.1 million and offering costs of $6.5 million.

Upon the closing of the IPO on July 1, 2019, BridgeBio completed the Reorganization, whereby all unitholders of BBP LLC exchanged their units for shares of common stock of the Corporation, and BBP LLC became a wholly-owned subsidiary of the Corporation. Subsequent to the Reorganization, as the sole managing member, the Corporation operates and controls all of BBP LLC’s businesses and affairs. See Note 3 for additional details.

The results of operations and cash flows prior to the IPO closing on July 1, 2019 relate to BBP LLC, its subsidiaries and controlled entities. Subsequent to the IPO closing, the information relates to the Corporation, its subsidiaries and controlled entities. All share and per share amounts in these condensed consolidated financial statements and related notes have been retroactively adjusted, where applicable, for all periods presented to give effect to the exchange ratio applied in connection with the Reorganization. See Note 3 for additional details.

Liquidity

The Company has sustained operating losses and negative cash flows from operations since its inception and had an accumulated deficit of $366.6 million as of September 30, 2019. The Company’s ultimate success depends on the outcome of its research and development activities as well as the ability to commercialize the Company’s product candidates. The Company had cash, cash equivalents and marketable securities of $611.9 million as of September 30, 2019, of which $364.5 million was held by BridgeBio. The remaining funds were held by the Corporation’s wholly-owned subsidiaries and controlled entities and these funds are designated for specific entity usage, except in limited circumstances.

The Company has historically financed its operations primarily through the sale of its equity securities and, to a lesser extent, debt borrowings. To date, none of the Company’s product candidates have been approved for sale and therefore the Company has not generated any revenue from product sales. The Company expects to incur additional losses in the future to fund its operations and conduct product research and development and recognizes the need to raise additional capital to fully implement its business plan. The Company intends to raise such additional capital through the issuance of equity securities, debt financings or other sources in order to further implement its business plan. However, if such financing is not available at adequate levels, the Company will need to reevaluate its operating plan and may be required to delay the development of its product candidates. The Company expects that its cash and cash equivalents will be sufficient to fund its operations for a period of at least one year from the date the condensed consolidated financial statements are filed with the Securities and Exchange Commission (“SEC”).

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2.	Summary of Significant Accounting Policies

Basis of Presentation

The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and applicable rules and regulations of SEC regarding interim financial reporting.

The condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair statement of the Company’s financial position, its results of operations and comprehensive loss, and its cash flows for the periods presented. The results of operations for the three and nine months ended September 30, 2019 are not necessarily indicative of the results to be expected for the year ending December 31, 2019 or for any other future annual or interim period.

The condensed consolidated balance sheet as of September 30, 2019, the condensed consolidated statements of operations and the condensed consolidated statements of comprehensive loss for the three and nine months ended September 30, 2019 and 2018, the condensed consolidated statements of redeemable convertible noncontrolling interests and stockholders’ equity for the three months ended March 31, 2019 and 2018, June 30, 2019 and 2018, September 30, 2019 and 2018 and the statements of cash flows for the nine months ended September 30, 2019 and 2018 are unaudited. The financial data and the other financial information contained in these notes to the condensed consolidated financial statements related to the three and nine-month periods are also unaudited.

These condensed consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements included in the prospectus dated June 26, 2019 (“Prospectus”) that forms a part of the Company's Registration Statements on Form S-1 (File Nos. 333-231759 and 333-232376), as filed with the SEC pursuant to Rule 424(b)(4) promulgated under the Securities Act of 1933, as amended.

Variable Interest Entities and Voting Interest Entities

BridgeBio consolidates those entities in which it has a direct or indirect controlling financial interest based on either the Variable Interest Entity (“VIE”) model or the Voting Interest Entity (“VOE”) model.

At the VIE’s inception, BridgeBio determines whether it is the primary beneficiary and if the VIE should be consolidated based on the facts and circumstances. BridgeBio then performs on-going reassessments of the VIE based on reconsideration events and reevaluates whether a change to the consolidation conclusion is required each reporting period. Refer to Note 7.

Entities that do not qualify as a VIE are assessed for consolidation under the VOE model. Under the VOE model, BridgeBio consolidates the entity if it determines that it, directly or indirectly, has greater than 50% of the voting shares and that other equity holders do not have substantive voting, participating or liquidation rights. Refer to Note 7.

The Company has either created or made investments in the following entities:

Consolidated Entities	Relationship as of September 30, 2019	Date Control First Acquired	Ownership % as of September 30, 2019			Ownership % as of December 31, 2018
			(unaudited)
BridgeBio Services, Inc.	Wholly-owned subsidiary	April 2017		100	%		100	%
Fortify Therapeutics, Inc. (”Fortify”)	Wholly-owned subsidiary	June 2018		100	%		100	%
Sub20, Inc.	Wholly-owned subsidiary	June 2018		100	%		100	%
Unnamed Entity #1	Wholly-owned subsidiary	December 2018		100	%		100	%
Unnamed Entity #2	Wholly-owned subsidiary	April 2019		100	%		—
Unnamed Entity #3	Wholly-owned subsidiary	May 2019		100	%		—
BridgeBio Pharma LLC (”BBP LLC”)⁽¹⁾	Wholly-owned subsidiary	July 2019		100	%		—
BridgeBio Gene Therapy, LLC	Wholly-owned subsidiary	August 2019		100	%		—
Eidos Therapeutics, Inc. (”Eidos”)⁽²⁾	Partially-owned subsidiary	April 2016		66.3	%		62.5	%
Molecular Skin Therapeutics, Inc. (”MOST”)	Controlled VIE	July 2016		66.2	%		61.7	%
TheRas, Inc. (”Theras”)	Controlled VIE	August 2016		99.8	%		100	%
Quartz Therapeutics, Inc. (”Quartz”)	Controlled VIE	October 2016		89.0	%		89.0	%
PellePharm, Inc. (”PellePharm”)⁽³⁾	VIE	December 2016		43.3	%		43.3	%
Navire Pharma, Inc. (”Navire”)	Controlled VIE	February 2017		78.7	%		78.8	%
CoA Therapeutics, Inc. (”CoA”)	Controlled VIE	February 2017		99.5	%		99.5	%
Dermecular Therapeutics, Inc. (”Dermecular”)	Controlled VIE	April 2017		87.6	%		87.6	%
Phoenix Tissue Repair, Inc. (”PTR”)	Controlled VIE	July 2017		65.7	%		56.7	%
QED Therapeutics, Inc. (”QED”)	Controlled VIE	January 2018		97.5	%		94.4	%
Adrenas Therapeutics, Inc. (”Adrenas”)	Controlled VIE	January 2018		88.9	%		90.1	%
Orfan Biotech, Inc. (”Orfan”)	Controlled VIE	January 2018		89.0	%		85.1	%
Ferro Therapeutics, Inc. (”Ferro”)	Controlled VIE	March 2018		89.3	%		89.4	%
Origin Biosciences, Inc. (”Origin”)	Controlled VIE	April 2018		99.8	%		100	%
Venthera, Inc. (”Venthera”)	Controlled VIE	April 2018		83.2	%		82.0	%
Aspa Therapeutics, Inc. (”Aspa”)	Controlled VIE	June 2018		90.6	%		92.5	%
ML Bio Solutions, Inc. (”ML Bio”)	Controlled VIE	July 2019		50.5	%		—

(1)	BBP LLC was the original reporting entity prior to the Reorganization executed on July 1, 2019 as further described in Note 3.

(2)	Subsequent to the Eidos Therapeutics, Inc. (“Eidos”) initial public offering in June 2018 and through September 30, 2019, BridgeBio had a majority voting interest in Eidos and consolidates Eidos under the VOE model. Refer to Note 7.

(3)

Subsequent to the execution of a series of agreements (the “LEO Agreement”) with LEO Pharma A/S and LEO Spiny Merger Sub, Inc. (“LEO”) in November 2018, BridgeBio determined that it is no longer the primary beneficiary of PellePharm, Inc. (“PellePharm”) and deconsolidated PellePharm. Refer to Note 9.

Use of Estimates

The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of expenses during the reporting period. Significant estimates and assumptions made in the accompanying condensed consolidated financial statements include, but are not limited to, the fair value of the LEO Call Option liability, the valuation of the Company’s equity-based awards, income tax uncertainties and accruals for research and development activities. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable. Actual results may differ from those estimates or assumptions.

Cash, Cash Equivalents and Restricted Cash

The Company considers all highly liquid investments purchased with original maturities of 90 days or less from the purchase date to be cash equivalents. Cash equivalents consist primarily of amounts invested in money market instruments, such as money market funds and repurchase agreements collateralized with securities issued by the U.S. government or its agencies (see Note 5).

The Company’s restricted cash balance is related to letters of credit issued under its lease agreements, which have been collateralized. As of September 30, 2019 and December 31, 2018, the Company had restricted cash of $0.4 million and $0.2 million. Restricted cash is classified in prepaid expenses and other current assets and other assets in the accompanying condensed consolidated balance sheets as of September 30, 2019 and December 31, 2018, respectively.

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the amounts shown in the condensed consolidated statements of cash flows:

	September 30, 2019		September 30, 2018
	(in thousands)
Cash and cash equivalents	$	413,973	$	211,725
Restricted cash		424		359
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows	$	414,397	$	212,084

As of September 30, 2019 and December 31, 2018, total cash and cash equivalents held by BridgeBio was $166.6 million and $238.7 million. The remaining cash and cash equivalents were held by the Corporation’s wholly-owned subsidiaries and controlled entities and these funds are designated for specific entity usage, except in limited circumstances.

Marketable Securities

The Company invests its excess cash in investment grade, short to intermediate-term, fixed income securities. Such investments are considered available-for-sale and are reported at fair value with related unrealized gains and losses included as a component of stockholders’ equity.

Marketable securities with original maturities of greater than 90 days from the date of purchase but less than one year from the balance sheet date are classified as short-term, while marketable securities with maturities in excess of one year from the balance sheet date are classified as long-term. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity, which is included in interest income in the statements of operations. Realized gains and losses and declines in value considered to be other-than-temporary, if any, on marketable securities are included in other income (expense), net, as appropriate. The cost of securities sold is determined using the specific identification method.

The Company periodically evaluates whether declines in fair values of its marketable securities below their book value are other-than-temporary. This evaluation consists of several qualitative and quantitative factors regarding the severity and duration of the unrealized loss as well as the Company’s ability and intent to hold the marketable security until a forecasted recovery occurs. Additionally, the Company assesses whether it has plans to sell the security or it is more likely than not it will be required to sell any marketable securities before recovery of its amortized cost basis. Factors considered include quoted market prices, recent financial results and operating trends, implied values from any recent transactions or offers of investee securities, credit quality of debt instrument issuers, other publicly available information that may affect the value of the marketable security, duration and severity of the decline in value, and management’s strategy and intentions for holding the marketable security. The Company has not recorded any other-than-temporary impairment charges on its marketable securities for any of the periods presented.

Fair Value Measurements

Assets and liabilities recorded at fair value on a recurring basis in the balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair values. Fair value is defined as the exchange price that would be received for an asset or an exit price that would be paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The authoritative guidance on fair value measurements establishes a three-tier fair value hierarchy for disclosure of fair value measurements as follows:

Level 1—Observable inputs such as unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date;

Level 2—Inputs (other than quoted prices included in Level 1) are either directly or indirectly observable for the asset or liability. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active; and

Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

The carrying amounts reflected in the accompanying unaudited condensed consolidated balance sheets for cash and cash equivalents, restricted cash, prepaid expenses and other current assets, accounts payable and accrued expenses approximate their fair values, due to their short-term nature.

The fair value of the Company’s outstanding term loans with Hercules Capital, Inc. (see Note 11) is estimated using the net present value of the payments, discounted at an interest rate that is consistent with a market interest rate, which is a Level 2 input. The estimated fair value of the Company’s outstanding term loans approximates the carrying amount, as the term loan bears a floating rate that approximates the market interest rate.

Deferred Offering Costs

The Company incurred offering costs, consisting of legal, accounting, printer and filing fees directly attributable to the Corporation’s IPO. The proceeds received upon the closing of the IPO, net of the offering costs incurred, were recorded within additional paid-in capital. As of September 30, 2019 and December 31, 2018, no amounts were deferred.

Revenue Recognition

The Company recognizes revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”), when the customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. To determine the appropriate revenue recognition for arrangements within the scope of ASC 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies its performance obligation. The Company applies the five-step model to contracts when it is probable that the Company will collect the consideration the Company is entitled to in exchange for the goods or services the Company transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and identifies, as a performance obligation, and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied.

As part of the accounting for these arrangements, the Company develops assumptions that require judgment to determine the standalone selling price for each performance obligation identified in the contract. These key assumptions may include forecasted revenues, clinical development timelines and costs, reimbursement rates for personnel costs, discount rates and probabilities of technical and regulatory success.

License Revenue

In the normal course of business, the Company conducts research and development programs independently pursuant to which the Company may license certain rights of the Company’s intellectual property to third parties. The terms of these arrangements typically include payment to the Company of one or more of the following: up-front license fees; development, regulatory and sales milestone payments; product supply services; and royalties on net sales of licensed products.

Upfront License Fees: If the license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company will recognize revenue from upfront license fees allocated to the license when the license is transferred to the licensee and the licensee is able to use and benefit from the license. For licenses that are bundled with other promises, the Company determines whether the combined performance obligation is satisfied over time or at a point in time. If the combined performance obligation is satisfied over time, the Company uses judgment in determining the appropriate method of measuring progress for purposes of recognizing revenue from the up-front license fees. The Company evaluates the measure of progress at each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition.

Development, Regulatory or Commercial Milestone Payments: At the inception of each arrangement that includes payments based on the achievement of certain development, regulatory and commercial or launch events, the Company evaluates whether the milestones are considered probable of being achieved and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within the Company’s or the licensee’s control, such as regulatory approvals, are not considered probable of being achieved until uncertainty associated with the approvals has been resolved.

The transaction price is then allocated to each performance obligation, on a relative standalone selling price basis, for which the Company will recognize revenue as or when the performance obligations under the contract are satisfied. At the end of each subsequent reporting period, the Company will re-evaluate the probability of achieving such development and regulatory milestones and any related constraint, and if necessary, adjust the Company’s estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis and recorded as part of contract revenues from collaborations during the period of adjustment.

Product Supply Services: Arrangements that include a promise for the future supply of drug product for either clinical development or commercial supply at the licensee’s discretion are generally considered as options. The Company will assess if these options provide a material right to the licensee and if so, they are accounted for as separate performance obligations.

Sales-based Milestone Payments and Royalties: For arrangements that include sales-based royalties, including milestone payments based on the volume of sales, the Company will determine whether the license is deemed to be the predominant item to which the royalties or sales-based milestones relate and if such is the case, the Company will recognize revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied).

Deferred Revenue and Receivable: Upfront payments and fees are recorded as deferred revenue when due and payable, and may require deferral of revenue recognition to a future period until the Company performs its obligations under these arrangements. Amounts payable to the Company are recorded as accounts receivable when the Company’s right to consideration is unconditional. The Company does not assess whether a contract has a significant financing component if the expectation at contract inception is such that the period between payment by the customer and the transfer of the promised goods or services to the customer will be one year or less.

Cost of License Revenue

Cost of license revenue includes sublicensing fees payable to Stanford in the period incurred under the terms of the Stanford Agreement (see Note 12) corresponding to the recognition of license revenue from Alexion (see Note 14). Cost of license revenue does not include any allocated overhead costs.

Comprehensive Loss

The Company’s comprehensive loss is comprised of changes in unrealized gains or losses on available-for-sale securities.

Net Loss per Share

Basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of the Corporation’s common stock outstanding for the period, without consideration for potential dilutive shares of common stock, such as stock options, unvested restricted stock units and shares issuable under the employee stock purchase plan. Shares of common stock subject to repurchase are excluded from the weighted-average shares. Since the Company was in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share since the effects of potentially dilutive securities are antidilutive.

No adjustment for cumulative returns on BBP LLC’s redeemable convertible preferred units has been applied to the calculation of basic and diluted net loss per share, since such units were retroactively adjusted as if the Reorganization occurred at the beginning of the earliest period to be presented in the Company’s financial statements for the year ending December 31, 2019. See Note 3 to the condensed consolidated financial statements for additional details.

Recently Adopted Accounting Pronouncements

ASU 2015-17 Income Taxes (Topic 740). In November 2015, the FASB issued ASU 2015-17 Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes (“ASU 2015-17”), which simplifies the presentation of deferred taxes in a classified balance sheet by eliminating the requirement to separate deferred income tax liabilities and assets into current and noncurrent amounts. Instead, ASU 2015-17 requires that all deferred tax liabilities and assets be shown as noncurrent in a classified balance sheet. ASU 2015-17 is effective for fiscal years beginning after December 15, 2017 and may be applied either prospectively or retrospectively to all periods presented. The Company adopted this guidance on January 1, 2018. The condensed consolidated balance sheets as of September 30, 2019 and December 31, 2018 are presented in accordance with this guidance.

Recently Issued Accounting Pronouncements Not Yet Adopted

ASU 2016-02 Leases (Topic 842). In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”), which, for operating leases, requires the lessee to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in its balance sheet. The guidance also requires a lessee to recognize single lease costs, calculated so that the cost of the lease is allocated over the lease term, generally on a straight-line basis. In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases. Additionally, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted Improvements, which offers a practical expedient for transitioning at the adoption date. These ASUs will be effective for the Company on January 1, 2020 and the Company has chosen to use this practical expedient and recognize a cumulative-effect adjustment to the opening balance of the accumulated deficit. The Company also plans to apply other practical expedients provided by the standard. The Company has begun an implementation plan, including the identification of its lease population and the implementation of changes to existing processes that will be required to implement the new lease standard. The Company believes the most significant changes to the financial statements will relate to the recognition of right-of-use assets and offsetting lease liabilities in the condensed consolidated balance sheet for operating leases. The impact on the condensed consolidated balance sheet will be contingent upon the Company's population of operating leases at adoption. However, the Company does not expect the standard to have a material impact on the condensed consolidated statement of cash flows or the condensed consolidated statement of operations.

ASU 2016-15 Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). The areas affected by ASU 2016-15 are debt prepayment and debt extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies), distributions received from equity method investees, beneficial interests in securitization transactions and separately identifiable cash flows and application of the predominance principle. Specifically, under this guidance, cash payments for debt prepayment or debt extinguishment costs will be classified as cash outflows for financing activities. The amendments in ASU 2016-15 are effective for fiscal years beginning after December 15, 2018 and interim periods within fiscal years beginning after December 15, 2019. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The amendments in ASU 2016-15 will be applied using a retrospective transition method to each period presented. The adoption of ASU 2016-15 is not expected to materially impact the Company’s consolidated financial statements.

ASU 2018-13, Fair Value Measurement – Disclosure Framework (Topic 820). In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement - Disclosure Framework (Topic 820) (“ASU 2018-13”). The updated guidance improves the disclosure requirements on fair value measurements and is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted upon issuance of the standard for disclosures modified or removed with a delay of adoption of the additional disclosures until their effective date. The adoption of ASU 2018-13 is not expected to materially impact the Company’s consolidated financial statements.

Reorganization

9 Months Ended

Sep. 30, 2019

Reorganizations [Abstract]

Reorganization

3.	Reorganization

On June 13, 2019, the Corporation formed BridgeBio Pharma Merger Sub LLC (“Merger Sub LLC”), a Delaware limited liability company and direct wholly-owned subsidiary. The Reorganization was executed on July 1, 2019, immediately prior to completion of the IPO of the Corporation’s common stock. As part of the Reorganization, the existing ownership interest in BBP LLC held by all BBP LLC unitholders was transferred to Merger Sub LLC, and all outstanding units of BBP LLC were cancelled and exchanged for shares of common stock of the Corporation. Merger Sub LLC was then merged with and into BBP LLC, the surviving entity, which became a wholly-owned subsidiary of the Corporation. At the conclusion of the Reorganization, the Corporation became the reporting entity.

The number of shares of the Corporation’s common stock issued to BBP LLC unitholders in the Reorganization is shown in the below table by unit class:

BBP LLC unit class	Number of the Corporation's Shares Issued
Series D Preferred Units		30,459,426
Series C Preferred Units		31,992,709
Series B Preferred Units		17,794,455
Series A Preferred Units		4,918,881
Founder Units		2,252,916
Common Units		1,794,823
Management Incentive Units		10,786,757
Total shares issued		99,999,967

Included in the amounts above, the unvested outstanding management incentive units and common units of BBP LLC were exchanged for 6,819,455 shares of the Corporation’s unvested restricted stock, subject to the same time-based vesting conditions as the original management incentive units and common units terms and conditions. See Note 16 for additional details.

The Reorganization was accounted for as a reverse acquisition and recapitalization for financial reporting purposes. The assets and liabilities of the Corporation, the legal acquirer, were nominal and there were no material pre-combination activities. Therefore, BBP LLC, the legal acquiree, was determined to be the accounting acquirer. Accordingly, the historical financial statements of BBP LLC became the Corporation’s historical financial statements, including the comparative prior periods. All share and per share amounts in these condensed consolidated financial statements and related notes have been retroactively adjusted, where applicable, for all periods presented. The shares of the Corporation’s common stock for periods prior to July 1, 2019 represent the outstanding BBP LLC units recalculated to give effect to the exchange ratio applied in connection with the Reorganization.

All BBP LLC units that were previously reported as temporary equity and were converted to common stock of the Corporation upon the execution of the Reorganization, have been reclassified to equity for all periods presented, as if the Reorganization occurred at the beginning of the earliest period to be presented in the Company’s financial statements for the year ending December 31, 2019, as follows:

	December 31, 2018
	As Reported			Adjustment			As Adjusted
	(in thousands)
Redeemable convertible preferred units	$	478,865		$	(478,865	)	$	—
Redeemable founder units		1,754			(1,754	)		—
Redeemable common units		1,619			(1,619	)		—
Management incentive units		3,221			(3,221	)		—
Redeemable convertible noncontrolling interests		122			—			122
Stockholders' Equity (Members’ Deficit):
Undesignated preferred stock		—			—			—
Common stock		—			92			92
Additional paid-in capital		—			494,231			494,231
Accumulated deficit		(170,580	)		(8,864	)		(179,444	)
Total BridgeBio stockholders' equity (members' deficit)		(170,580	)		485,459			314,879
Noncontrolling interests		62,361			—			62,361
Total stockholders' equity (members' deficit)	$	(108,219	)	$	485,459		$	377,240

	December 31, 2017
	As Reported			Adjustment			As Adjusted
	(in thousands)
Redeemable convertible preferred units	$	143,867		$	(143,867	)	$	—
Redeemable founder units		1,754			(1,754	)		—
Redeemable common units		1,431			(1,431	)		—
Management incentive units		226			(226	)		—
Redeemable convertible noncontrolling interests		833			—			833
Stockholders' Equity (Members’ Deficit):
Undesignated preferred stock		—			—			—
Common stock		—			51			51
Additional paid-in capital		—			134,495			134,495
Accumulated deficit		(61,427	)		12,732			(48,695	)
Total BridgeBio stockholders' equity (members' deficit)		(61,427	)		147,278			85,851
Noncontrolling interests		2,498			—			2,498
Total stockholders' equity (members' deficit)	$	(58,929	)	$	147,278		$	88,349

Fair Value Measurement

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurement

4.	Fair Value Measurement

The following table presents information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation:

	September 30, 2019
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets
Cash equivalents:
Money market funds	$	256,581	$	256,581	$	—	$	—
Repurchase agreements		100,000		100,000		—		—
Total cash equivalents		356,581		356,581		—		—
Short-term marketable securities:
Commercial paper		65,280		—		65,280		—
Corporate debt securities		56,800		—		56,800		—
Total short-term marketable securities		122,080		—		122,080		—
Long-term marketable securities:
U.S. treasury notes		45,480		—		45,480		—
Corporate debt securities		30,406		—		30,406		—
Total long-term marketable securities		75,886		—		75,886		—
Total cash equivalents and marketable securities	$	554,547	$	356,581	$	197,966	$	—
Liabilities:
LEO Call Option liability	$	4,021	$	—	$	—	$	4,021

	December 31, 2018
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets:
Money market funds	$	395,780	$	395,780	$	—	$	—
Liabilities:
LEO Call Option liability	$	3,009	$	—	$	—	$	3,009

There were no transfers between Level 1, Level 2 or Level 3 during the periods presented.

LEO Call Option Liability

The valuation of the LEO Call Option (see Note 9) contains unobservable inputs that reflect management’s own assumptions for which there is little, if any, market activity at the measurement date. Accordingly, the LEO Call Option liability is remeasured to fair value on a recurring basis using unobservable inputs that are classified as Level 3 inputs.

The Company estimated the fair value of the LEO Call Option by estimating the fair value of various clinical, regulatory, and sales milestones based on the estimated risk and probability of achievement of each milestone, and allocated the value using a Black-Scholes option pricing model with the following assumptions:

	September 30, 2019		December 31, 2018
Probability of milestone achievement	12.0%-84.0%		12.0%-84.0%
Discount rate	1.7%-14.5%		2.7%-11.0%
Expected term (in years)	0.83-4.13		0.58-4.38
Expected volatility	60.0%-69.0%		67.0%-79.0%
Risk-free interest rate	3.12%-3.34%		2.51%-2.78%
Dividend yield		—		—

The following table sets forth a summary of the changes in the estimated fair value of the LEO Call Option:

	Total
	(in thousands)
Balance as of December 31, 2018	$	3,009
Change in fair value upon remeasurement recognized in other (income) expense		1,012
Balance as of September 30, 2019	$	4,021

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Cash Equivalents and Marketable Securities

9 Months Ended

Sep. 30, 2019

Cash Equivalents And Marketable Securities [Abstract]

Cash Equivalents and Marketable Securities

5.	Cash Equivalents and Marketable Securities

The Company invests in certain reverse repurchase agreements, classified as cash equivalents, which are collateralized by deposits in the form of U.S. treasury securities for an amount no less than 102% of their value. The Company does not record an asset or liability for the collateral as it does not intend to sell or re-pledge the collateral. The collateral has the prevailing credit rating of at least the U.S. government treasuries and agencies. The Company utilizes a third-party custodian to manage the exchange of funds and ensure that collateral received is maintained at 102% of the value of the reverse repurchase agreements on a daily basis.

Cash equivalents and marketable securities classified as available-for-sale consisted of the following:

	September 30, 2019
	Amortized Cost Basis		Unrealized Gains		Unrealized Losses			Fair value
	(in thousands)
Cash equivalents:
Money market funds	$	256,581	$	—	$	—		$	256,581
Repurchase agreements		100,000		—		—			100,000
Total cash equivalents		356,581		—		—			356,581
Short-term marketable securities:
Commercial paper		65,280		—		—			65,280
Corporate debt securities		56,745		62		(7	)		56,800
Total short-term marketable securities		122,025		62		(7	)		122,080
Long-term marketable securities:
U.S. treasury notes		30,363		48		(5	)		30,406
Corporate debt securities		45,426		65		(11	)		45,480
Total long-term marketable securities		75,789		113		(16	)		75,886
Total cash equivalents and marketable securities	$	554,395	$	175	$	(23	)	$	554,547

Balance Sheet Components

9 Months Ended

Sep. 30, 2019

Balance Sheet Components [Abstract]

Balance Sheet Components

6.	Balance Sheet Components

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following:

	September 30, 2019		December 31, 2018
	(in thousands)
Prepaid clinical and research related expenses	$	8,750	$	7,087
Other current assets		13,352		2,050
Total prepaid expenses and other current assets	$	22,102	$	9,137

Other Accrued Liabilities

Other accrued liabilities consist of the following:

	September 30, 2019		December 31, 2018
	(in thousands)
Accrued professional services	$	1,570	$	772
Accrued other liabilities		3,219		1,328
Total other accrued liabilities	$	4,789	$	2,100

Variable Interest Entities and Voting Interest Model

9 Months Ended

Sep. 30, 2019

Variable Interest Entities And Voting Interest Model [Abstract]

Variable Interest Entities and Voting Interest Model

7.	Variable Interest Entities and Voting Interest Model

The entities consolidated by BridgeBio are comprised of wholly-owned subsidiaries and partially-owned entities consolidated under the VOE model and VIEs for which BridgeBio is the primary beneficiary under the VIE model. The results of operations of the consolidated entities are included within the BridgeBio condensed consolidated financial statements for the three and nine months ended September 30, 2019 and 2018.

Upon the Reorganization, BBP LLC became a wholly-owned subsidiary of the Corporation through the series of transactions described in Note 3. At that time, the consolidation assessment was updated on behalf of the Corporation with no changes in the BridgeBio group composition, other than the merger of BBP LLC and Merger Sub LLC as a result of the Reorganization described in Note 3.

As of September 30, 2019, there were no significant restrictions on the VIE assets or liabilities except for the cash held by its VIEs presented below. For VIEs, BridgeBio calculates the maximum exposure to loss to be equal to the amount invested in the equity of the VIE and the amount of outstanding convertible notes.

Included within Note 2 is a list of partially-owned entities that were determined to be under BridgeBio’s control as of September 30, 2019 and December 31, 2018. At each reporting period, the Company reassesses whether it has a majority voting interest for entities consolidated under the VOE model and whether it remains the primary beneficiary of the VIEs consolidated under the VIE model.

Eidos

From the date of BridgeBio’s initial investment until June 22, 2018, the Eidos IPO closing date, Eidos was determined to be a VIE and BridgeBio consolidated Eidos as the primary beneficiary. Subsequent to the Eidos IPO, BridgeBio determined that Eidos was no longer a VIE due to it having sufficient equity at risk to finance its activities without additional subordinated financial support. From June 22, 2018 through September 30, 2019, BridgeBio determined that it held greater than 50% of the voting shares of Eidos and there were no other parties with substantive participating, liquidation or kick-out rights. BridgeBio consolidated Eidos under the VOE model as of September 30, 2019 and during the nine months then ended.

In May 2019, BridgeBio purchased 1,103,848 shares of Eidos common stock from an existing Eidos stockholder for $28.6 million in a private purchase transaction. In July 2019, BridgeBio purchased 882,353 shares of Eidos common stock from an existing Eidos investor for $26.4 million in a private purchase transaction. In September 2019, Eidos issued 556,173 shares of Eidos common stock to a third-party, which is further described in Note 14.

ML Bio

In July 2019, BridgeBio purchased shares of preferred stock of ML Bio for $7.0 million. Upon the initial investment, BridgeBio received a majority ownership interest in ML Bio and it was determined that ML Bio is a VIE and BridgeBio is the primary beneficiary. BridgeBio controlled the activities that most significantly impact ML Bio’s economic performance and, through its representation within management on ML Bio’s Board of Directors, also controlled the most significant decisions affecting ML Bio. BridgeBio has consolidated ML Bio under the VIE model since the initial investment date in July 2019 through September 30, 2019. Refer to Note 13 for additional details with respect to this transaction.

Consolidated VIEs

The entities identified as a “Controlled VIE” in Note 2 are VIEs for which BridgeBio was determined to be the primary beneficiary as of September 30, 2019. BridgeBio also had a majority ownership interest in these entities as of September 30, 2019 and December 31, 2018.

During the nine months ended September 30, 2019, BridgeBio made investments in QED of $80.0 million, Origin of $24.0 million, Aspa of $11.6 million, Adrenas of $11.6 million, PTR of $7.0 million, ML Bio of $7.0 million, CoA of $5.1 million, Theras of $5.0 million, Venthera of $4.5 million, Ferro of $4.5 million, Navire of $4.5 million, Orfan of $3.5 million, MOST of $1.4 million and Quartz of $0.4 million in exchange for shares of redeemable convertible preferred stock of the respective entities. Based on the above noted equity financing transactions, BridgeBio concluded that there was no change in the consolidation conclusions during the period ended September 30, 2019.

The following table provides the assets and liabilities for all consolidated VIEs as of September 30, 2019:

	Adrenas		Aspa		PTR		QED		Venthera		All Other		Total
	(in thousands)
Assets:
Current assets:
Cash and cash equivalents	$	793	$	904	$	6,782	$	24,084	$	3,113	$	33,557	$	69,233
Prepaid expenses and other current assets		1,261		2,811		662		5,060		222		2,379		12,395
Total current assets		2,054		3,715		7,444		29,144		3,335		35,936		81,628
Property and equipment, net		631		292		71		310		—		279		1,583
Other assets		—		—		1		348		—		—		349
Total assets	$	2,685	$	4,007	$	7,516	$	29,802	$	3,335	$	36,215	$	83,560
Liabilities:
Current liabilities:
Accounts payable	$	350	$	320	$	131	$	1,893	$	600	$	1,798	$	5,092
Accrued compensation and benefits		466		49		368		2,249		37		1,253		4,422
Accrued research and development liabilities		927		915		93		2,380		271		3,954		8,540
Other accrued liabilities		270		274		8		677		2		238		1,469
Total current liabilities		2,013		1,558		600		7,199		910		7,243		19,523
Other liabilities		—		—		—		163		—		24		187
Total liabilities	$	2,013	$	1,558	$	600	$	7,362	$	910	$	7,267	$	19,710

The following table provides the assets and liabilities for all consolidated VIEs as of December 31, 2018:

	Adrenas		Aspa		PTR		QED		Venthera		All Other		Total
	(in thousands)
Assets:
Current assets:
Cash and cash equivalents	$	3,046	$	4,259	$	6,934	$	8,630	$	2,913	$	6,713	$	32,495
Prepaid expenses and other current assets		665		1,722		28		3,240		—		321		5,976
Total current assets		3,711		5,981		6,962		11,870		2,913		7,034		38,471
Property and equipment, net		584		129		88		181		—		277		1,259
Other assets		7		—		41		—		—		28		76
Total assets	$	4,302	$	6,110	$	7,091	$	12,051	$	2,913	$	7,339	$	39,806
Liabilities:
Current liabilities:
Accounts payable	$	1,876	$	1,187	$	621	$	3,537	$	333	$	1,737	$	9,291
Accrued compensation and benefits		377		30		287		1,392		—		467		2,553
Accrued research and development liabilities		227		728		—		4,390		—		1,251		6,596
Other accrued liabilities		28		32		8		229		9		82		388
Total current liabilities		2,508		1,977		916		9,548		342		3,537		18,828
Other liabilities		—		—		—		150		—		29		179
Total liabilities	$	2,508	$	1,977	$	916	$	9,698	$	342	$	3,566	$	19,007

VIEs included in the “All Other” category of the above table are not significant individually for separate presentation. Going forward, BridgeBio may not provide any further investment in certain of these VIEs.

Noncontrolling Interests

9 Months Ended

Sep. 30, 2019

Noncontrolling Interest [Abstract]

Noncontrolling Interests

8.	Noncontrolling Interests

As of September 30, 2019, the Company had both redeemable convertible noncontrolling interests and noncontrolling interests in consolidated partially-owned entities, for which BridgeBio has a majority voting interest under the VOE model and for which BridgeBio is the primary beneficiary under the VIE model. These balances are reported as separate components outside stockholders’ equity in “Redeemable convertible noncontrolling interests” and as part of stockholders’ equity in “Noncontrolling interests” in the condensed consolidated balance sheets.

The Company adjusts the carrying value of noncontrolling interest to reflect the book value attributable to noncontrolling shareholders of consolidated partially-owned entities when there is a change in the ownership during the respective reporting period. During the three and nine months ended September 30, 2019, such adjustments in the aggregate amounts of $13.5 million and $41.9 million are recorded to additional paid-in capital. During the three and nine months ended September 30, 2018, such adjustments in the aggregate amounts of $2.3 million and $57.8 million are recorded to additional paid-in capital. All such adjustments are disclosed within the “Transfers to (from) noncontrolling interest” line item in the condensed consolidated statements of redeemable convertible noncontrolling interests and stockholders’ equity.

The following table provides a rollforward of the redeemable convertible noncontrolling interests balance, as follows:

	Orfan			QED			ML Bio			Total
	(in thousands)
Balance as of December 31, 2018	$	8		$	114		$	—		$	122
Net loss attributable to redeemable convertible noncontrolling interest		(34	)		(756	)		—			(790	)
Transfers to redeemable convertible noncontrolling interest		57			813			—			870
Balance as of March 31, 2019		31			171			—			202
Net loss attributable to redeemable convertible noncontrolling interest		(23	)		(662	)		—			(685	)
Transfers to redeemable convertible noncontrolling interest		47			611			—			658
Balance as of June 30, 2019		55			120			—			175
Issuance of redeemable convertible noncontrolling interest		—			—			3,196			3,196
Net loss attributable to redeemable convertible noncontrolling interest		(37	)		(509	)		(89	)		(635	)
Transfers to redeemable convertible noncontrolling interest		(1	)		891			(1,056	)		(166	)
Balance as of September 30, 2019	$	17		$	502		$	2,051		$	2,570

The following table provides a rollforward of the noncontrolling interests balance:

	Adrenas			Aspa			Eidos			PTR			Venthera			All Other			Total
	(in thousands)
Balance as of December 31, 2018	$	217		$	245		$	58,185		$	2,728		$	449		$	537		$	62,361
Issuance (repurchase) of noncontrolling interest		2			2			1,027			34			1			254			1,320
Transfers to (from) noncontrolling interest		874			472			(337	)		(10	)		(1	)		1,100			2,098
Net loss attributable to noncontrolling interest		(451	)		(222	)		(4,365	)		(1,580	)		(192	)		(651	)		(7,461	)
Balance as of March 31, 2019		642			497			54,510			1,172			257			1,240			58,318
Issuance (repurchase) of noncontrolling interest		3			2			(27,030	)		—			—			1			(27,024	)
Transfers to (from) noncontrolling interest		32			208			23,751			4			273			514			24,782
Net loss attributable to noncontrolling interest		(554	)		(471	)		(5,200	)		(552	)		(353	)		(555	)		(7,685	)
Balance as of June 30, 2019		123			236			46,031			624			177			1,200			48,391
Issuance (repurchase) of noncontrolling interest		6			9			(1,205	)		12			2			1,078			(98	)
Transfers to (from) noncontrolling interest		388			316			8,220			2,257			506			2,008			13,695
Net income (loss) attributable to noncontrolling interest		(401	)		(399	)		2,326			(514	)		(298	)		(763	)		(49	)
Balance as of September 30, 2019	$	116		$	162		$	55,372		$	2,379		$	387		$	3,523		$	61,939

PellePharm Investment

9 Months Ended

Sep. 30, 2019

Equity Method And Cost Method Investment [Abstract]

PellePharm Investment

9.	PellePharm Investment

PellePharm is a clinical-stage biopharmaceutical company developing BBP-009, a topical gel formulation of patidegib, a hedgehog inhibitor, for the treatment of Gorlin Syndrome and High-Frequency Basal Cell Carcinoma. In July 2015, BridgeBio made an initial investment of $4.5 million in PellePharm and in a series of transactions through December 2016, the Company increased its ownership interest to greater than 50%. BridgeBio determined that its initial investment in PellePharm represented a variable interest, but that BridgeBio was not the primary beneficiary until December 2016.

On November 19, 2018, PellePharm entered into the LEO Agreement, pursuant to which LEO was granted an exclusive, irrevocable option to acquire PellePharm. The LEO Call Option is exercisable by LEO on or before the occurrence of certain events relating to PellePharm’s clinical development programs and no later than July 30, 2021. The Company accounts for the LEO Call Option as a current liability in its condensed consolidated financial statements because BridgeBio is obligated to sell its shares in PellePharm to LEO at a pre-determined price, if the option is exercised. The Company remeasures the LEO Call Option to fair value at each subsequent condensed consolidated balance sheet date until the LEO Call Option is either exercised or expires.

The date the LEO Agreement was entered into was determined to be a VIE reconsideration event. Based on the Company’s assessment, BridgeBio concluded that PellePharm remains a VIE after the reconsideration event as it does not have sufficient equity at risk to finance its activities without additional subordinated financial support. However, based on changes to PellePharm’s governance structure and Board of Directors composition as a result of the LEO Agreement, BridgeBio is no longer the primary beneficiary as it no longer has the power over the key decisions that most significantly impact PellePharm’s economic performance. Accordingly, BridgeBio deconsolidated PellePharm on November 19, 2018. After the deconsolidation in November 2018, PellePharm is considered a related party of BridgeBio.

Subsequent to the deconsolidation of PellePharm, BridgeBio accounted for its retained common stock investment as an equity method investment and its retained preferred stock investment as a cost method investment. As of September 30, 2019 and December 31, 2018, the aggregate carrying amount of the Company’s equity method investment in PellePharm was zero and $0.2 million. As of September 30, 2019 and December 31, 2018, the aggregate carrying amount for the Company’s cost method investment in PellePharm was $0.9 million and $16.8 million. After the equity method investment was reduced to zero during the three months ended March 31, 2019, BridgeBio has subsequently recorded its percentage of net losses consistent with its preferred stock ownership percentage of 62%. The carrying amount of BridgeBio’s investment in PellePharm in the condensed consolidated balance sheets represents its maximum loss exposure related to its VIE investment in PellePharm.

Commitments and Contingencies

9 Months Ended

Sep. 30, 2019

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

10.	Commitments and Contingencies

Operating Lease Commitments

In November 2017, Eidos entered into an operating lease for an administrative facility in San Francisco, California. In March 2019, Eidos entered into an amendment to the November 2017 lease and the amended lease commenced on August 2019. In connection with the amendment, Eidos leases 10,552 rentable square feet. The amended Eidos lease is for 87 months and has $6.4 million of future minimum lease payments.

As of September 30, 2019, future minimum lease payments for all noncancelable operating leases with remaining lease terms in excess of one year, are as follows:

	Amount
	(in thousands)
Remainder of 2019	$	542
Year Ending December 31:
2020		2,462
2021		2,156
2022		1,444
2023		1,107
Thereafter		2,766
Total future minimum lease payments	$	10,477

Contingencies

On February 13, 2019, Children Hospital Research Center at Oakland (“CHRCO”) filed, but did not serve, a civil complaint against Dr. Ervin Epstein, Co-Founder and Chief Medical Officer of PellePharm and PellePharm in the Superior Court of the State of California, County of San Francisco. CHRCO asserted four causes of action against Dr. Epstein (conversion, breach of contract, breach of the implied covenant of good faith and fair dealing, and specific performance), and one related cause of action against PellePharm (constructive trust). All five causes of action were generally directed to a set of accusations relating to Dr. Epstein’s prior employment at CHRCO. In September 2019, CHRCO, PellePharm and Dr. Epstein reached a mutually agreeable and confidential settlement of their differences, and CHRCO voluntarily dismissed its lawsuit against PellePharm and Dr. Epstein with prejudice.

From time to time, the Company may become involved in legal proceedings arising in the ordinary course of business. The Company is unable to predict the outcome of these matters or the ultimate legal and financial liability, and at this time cannot reasonably estimate the possible loss or range of loss and accordingly has not accrued a related liability.

Hercules Term loan

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Hercules Term Loan

11.	Hercules Term Loan

Hercules Loan and Security Agreement

In June 2018, the Company executed a Loan and Security Agreement with Hercules Capital, Inc. (“Hercules”), under which the Company borrowed $35.0 million (“Tranche I”). The term of the loan was approximately 42 months, with a maturity date of January 1, 2022 (the “Maturity Date”). No principal payments were due during an interest-only period, commencing on the initial borrowing date and continuing through July 1, 2020 (the “Amortization Date”). In December 2018, the Company executed the First Amendment to the Loan and Security Agreement, whereby the Company borrowed an additional $20.0 million (“Tranche II”) to increase the total principal balance outstanding to $55.0 million. Upon draw of the additional $20.0 million, the interest-only period on the entire facility was extended until January 1, 2021 and the maturity date for the entire facility was July 1, 2022. In May 2019, the Company executed the Second Amendment to the Loan and Security Agreement (the “Amended Hercules Term Loan”) whereby the Company borrowed an additional $20.0 million (“Tranche III”) to increase the total principal balance outstanding to $75.0 million.

In July 2019, the completion of the Corporation’s IPO triggered certain provisions of the Amended Hercules Term Loan. The Corporation received an option to pay up to 1.5% of scheduled cash pay interest on the entire facility as payment in kind, or PIK Interest, with such cash pay interest paid as PIK Interest at a 1:1.2 ratio. The interest-only period will continue through July 1, 2021 (the “Amended Amortization Date”) and the entire facility received a maturity date of January 1, 2023 (the “Amended Maturity Date”). The outstanding balance of the Amended Hercules Term Loan is to be repaid by the Corporation monthly beginning on the Amended Amortization Date and extending through the Amended Maturity Date.

The interest rate for the Amended Hercules Term Loan was established as follows: (1) Tranche I bears interest at a floating rate equal to the greater of: (i) the prime rate as reported in the Wall Street Journal plus 3.85% and (ii) 8.85% (8.85% as of September 30, 2019 based on the prime rate as of that date), payable monthly; (2) Tranche II bears interest at a floating rate equal to the greater of: (i) the prime rate as reported in the Wall Street Journal plus 2.85% and (ii) 8.60% (8.60% as of September 30, 2019), payable monthly; and (3) Tranche III bears interest at a floating rate equal to the greater of: (i) the prime rate as reported in the Wall Street Journal plus 3.10% and (ii) 9.10% (9.10% as of September 30, 2019), payable monthly.

During the three and nine months ended September 30, 2019, the Company recognized interest expense related to the Amended Hercules Term Loan of $2.1 million and $5.7 million, of which $0.1 million and $0.7 million relate to amortization of debt discount, respectively. During the three and nine months ended September 30, 2018, the Company recognized interest expense related to the Amended Hercules Term Loan of $0.9 million and $1.0 million, of which $0.3 million and $0.3 million relate to amortization of debt discount, respectively.

License Agreements

9 Months Ended

Sep. 30, 2019

License Agreements [Abstract]

License Agreements

12.	License Agreements

Stanford License Agreement

In April 2016, Eidos entered into a license agreement with the Board of Trustees of the Leland Stanford Junior University (“Stanford University”) relating to Eidos’ drug discovery and development initiatives. Under this agreement, Eidos has been granted certain worldwide exclusive licenses to make, use and sell products that are covered by licensed patent rights. During the three and nine months ended September 30, 2019, Eidos recognized research and development expense of zero and $0.2 million in connection with this agreement.

Under the license agreement with Stanford, the Company will pay Stanford a portion of all nonroyalty sublicensing consideration attributable to the sublicense of the licensed compounds. The license agreement states that if this event occurred in the third year, 10% is payable to Stanford. During the three and nine months ended in September 30, 2019, the Company recognized $2.5 million and $2.5 million as a cost of license revenue upon execution of the Alexion license agreement (see Note 14).

The University of Texas License Agreement

In March 2017, Navire entered into a collaboration and license agreement with The Board of Regents of The University of Texas System (“Board of Regents”) and The University of Texas M.D. Anderson Cancer Center (“MD Anderson” and collectively “University of Texas”) relating to Navire’s drug discovery and development initiatives. Under this agreement, Navire and the University of Texas will carry out the development, manufacture and commercialization of licensed product under exclusive licenses granted by the University of Texas. The Company issued the Board of Regents shares of common stock of Navire valued at zero and $0.2 million during the three and nine months ended September 30, 2019 that was recognized as research and development expense. During the three and nine months ended September 30, 2019, Navire recognized additional research and development expense of $1.1 million and $2.4 million in connection with this agreement.

The Regents of the University of California License Agreement

In September 2016, TheRas entered into a license agreement with The Regents of the University of California (“UCSF”) relating to TheRas’ drug discovery and development initiatives. Under this agreement, TheRas has been granted certain worldwide exclusive licenses to use the licensed compounds (the “UCSF License”). Nominal expense was recognized in connection with this agreement during the three and nine months ended September 30, 2019.

Leidos Biomedical Research License and Cooperative Research and Development Agreements

In March 2017, TheRas entered into a cooperative research and development agreement (“Leidos CRADA”) with Leidos Biomedical Research, Inc. (“Leidos”). In December 2018, TheRas and Leidos entered into a license agreement (“Leidos License,” and together with the Leidos CRADA, the “Leidos Agreements”) under which TheRas has been granted certain worldwide exclusive licenses to use the licensed compounds. The Leidos Agreements are related to TheRas’ drug discovery and development initiatives. During the three and nine months ended September 30, 2019, TheRas recognized research and development expenses of $0.4 million and $1.0 million in connection with the Leidos Agreements.

St. Jude License Agreement

In April 2017, CoA entered into a license agreement with St. Jude Children’s Research Hospital, Inc., (“St. Jude”) relating to CoA’s drug discovery and development initiatives. Under this agreement, CoA has been granted a worldwide exclusive license to use a licensed compound. During the three and nine months ended September 30, 2019, CoA recognized research and development expense of $0.1 million and $0.5 million in connection with this agreement.

K-Gen License Agreement

In March 2018, Ferro entered into a license agreement with K-Gen, Inc. (“K-Gen”) relating to Ferro’s drug discovery and development initiatives. Under this agreement, Ferro has been granted certain worldwide exclusive licenses to use the licensed compounds. Nominal expense was recognized in connection with this agreement during the three and nine months ended September 30, 2019.

Memorial Sloan Kettering Cancer Center License Agreement

In April 2018, Venthera entered into a license agreement with Memorial Sloan Kettering Cancer Center (“MSK”) relating to Venthera’s drug discovery and development initiatives. Under this agreement, Venthera has been granted certain worldwide exclusive licenses to use the licensed products. No expense was recognized in connection with this agreement during the three and nine months ended September 30, 2019.

University of Massachusetts License Agreement

In April 2018, Aspa entered into a license agreement with the University of Massachusetts (“UM”) relating to Aspa’s drug discovery and development initiatives. Under this agreement, Aspa has been granted certain worldwide exclusive licenses to use the licensed compounds. During the three and nine months ended September 30, 2019, Aspa recognized nominal research and development expense in connection with this agreement.

NeuroVive License Agreement

In June 2018, Fortify entered into a license agreement with NeuroVive Pharmaceutical AB (“NeuroVive”) relating to Fortify’s drug discovery and development initiatives. Under this agreement, Fortify has been granted certain worldwide exclusive licenses to use the licensed compounds. During the three and nine months ended September 30, 2019, Fortify recognized nominal research and development expense in connection with this agreement.

Life License Agreement

In August 2018, BridgeBio entered into a license agreement with Life Technologies Corporation (“Life”) relating to Adrenas’ and Aspa’s drug discovery and development initiatives. Under this agreement, BridgeBio, Adrenas and Aspa have been granted certain worldwide non-exclusive licenses to use the licensed compounds. During the three and nine months ended September 30, 2019, Aspa recognized research and development expense of zero and $0.4 million in connection with this agreement.

Unnamed Entity #1 License Agreement

In December 2018, Unnamed Entity #1 entered into a license agreement relating to its drug discovery and development initiatives. Under this agreement, Unnamed Entity #1 has been granted certain worldwide exclusive licenses to use the licensed compounds. No expense was recognized in connection with this agreement during the three and nine months ended September 30, 2019.

Foundation Medicine Diagnostics Agreement

In November 2018, QED and Foundation Medicine, Inc. (“FMI”) entered into a diagnostics agreement relating to QED’s drug discovery and development initiatives. During the three and nine months ended September 30, 2019, QED recognized research and development expenses of zero million and $0.3 million in connection with this agreement.

Other License and Collaboration Agreements

In addition to the agreements described above, the Company has also entered into other license and collaboration agreements with various institutions and business entities on terms similar to those described above, none of which are material individually or in the aggregate.

Asset Acquisitions

9 Months Ended

Sep. 30, 2019

Business Combinations [Abstract]

Asset Acquisitions

13.	Asset Acquisitions

ML Bio Asset Acquisition

As described in Note 7, as of July 2019, ML Bio was a variable interest entity. Based on the qualitative assessment performed under ASC 805 Business Combinations, the Company concluded that ML Bio was not considered to be a business and accounted for the initial July 2019 investment in ML Bio as an asset acquisition. The assets acquired, liabilities and noncontrolling interest assumed in the transaction were measured based on their fair values. The Company recognized a loss of $0.4 million in other income (expense). The loss was calculated as the sum of consideration paid of $7.0 million and fair value of noncontrolling interest issued of $4.0 million, less fair value of identifiable net assets acquired of $10.6 million.

The fair value of the in-process research and development assets (“IPR&D”) acquired of $1.0 million was charged to research and development expense as it had no alternative future use at the time of the acquisition. BridgeBio may be required to purchase additional shares of preferred stock of up to $24.5 million upon achievement of certain development milestones by ML Bio. The assembled workforce acquired of $0.2 million was amortized during the three months ended September 30, 2019.

Unnamed Entity #2 Asset Acquisition

In June 2019, Unnamed Entity #2 entered into a Unit Purchase and Sale Agreement with the owners of a biopharmaceutical entity to acquire 100% of the outstanding equity of the entity. Unnamed Entity #2 accounted for the transaction as an asset acquisition as substantially all of the estimated fair value of the gross assets acquired were concentrated in a group of similar identified assets, IPR&D. The assets acquired and liabilities assumed in the transaction were measured based on their fair values.

The fair value of the IPR&D acquired was $0.5 million and was charged to research and development expense as it had no alternative future use at the time of the acquisition. If certain substantive milestones are met in the future, Unnamed Entity #2 could be required to pay up to $7.0 million in regulatory milestone payments, $65.0 million in sales milestone payments, and pay royalties of up to low single-digit percentages on future net sales. Royalties may increase to up to mid single-digit percentages in certain circumstances.

Phoenix Tissue Repair, Inc. Asset Acquisition

In July 2017, PTR entered into the Contribution Agreement and Asset Purchase Agreement with Shire Human Genetic Therapies, Inc. and its subsidiary Lotus Tissue Repair, Inc. to acquire the right, title, and interest in certain intellectual property, research program assets, and contracts relating to recombinant human collagen type VII. As consideration, in 2017, PTR made an upfront cash payment of $1.5 million and issued 10,019,900 shares of PTR common stock valued at a nominal fair value at issuance. There were no material direct transaction costs related to the transaction.

During the three and nine months ended September 30, 2019, PTR made a milestone payment of zero and $2.0 million in connection with this agreement related to the Phase I initiation milestone being met. This amount was charged to research and development expense as the underlying in-process research and development asset has no alternative future use. If certain substantive milestones are met in the future, PTR could be required to pay up to $25.0 million in regulatory milestone payments, $60.0 million in sales milestone payments, and pay royalties of up to low single-digit percentages on future net sales, if any.

License Revenue

9 Months Ended

Sep. 30, 2019

Revenue From Contract With Customer [Abstract]

License Revenue

14.	License Revenue

Alexion Agreements

In September 2019, Eidos and an affiliate of Alexion Pharmaceuticals, Inc. (“Alexion”) entered into an exclusive license agreement with Alexion to develop, manufacture and commercialize the compound known as AG10 and any of its various chemical forms and any pharmaceutical products containing AG10 in Japan. Under the agreement, Eidos received an upfront nonrefundable payment of $25.0 million.

The Company accounted for the exclusive license agreement under ASC 606 and identified the exclusive license as a distinct performance obligation since Alexion can benefit from the license on its own by developing and commercializing the underlying product using its own resources. In addition, Eidos will enter into clinical and commercial supply agreements for the licensed territory. The Company determined that the optional right to future products under these supply agreements is not considered to represent a material right.

Additionally, Eidos and Alexion entered into a stock purchase agreement (collectively with the exclusive license agreement, the “Alexion Agreements”), under which Eidos sold to Alexion 556,173 shares of the common stock of Eidos at a price per share of $44.95, for an aggregate purchase price of approximately $25.0 million. The excess of the purchase price over the value of the shares of Eidos’ common stock, determined based on the closing price of a share of the common stock of Eidos of $41.91 as reported on The Nasdaq Global Select Market as of the date of execution, was $1.7 million.

During the three and nine months ended September 30, 2019, the Company recognized $26.7 million and $26.7 million, respectively, in revenues related to the Alexion Agreements. Total revenue included the $25.0 million upfront fee and $1.7 million premium paid for the Eidos common stock upon the effective date of the license agreement in September 2019. The Company determined that the license was a right to use the intellectual property of Eidos and as of the effective date, Eidos had provided all necessary information to Alexion to benefit from the license and the license term had begun.

Eidos is also eligible to receive $30.0 million in regulatory milestone payments subject to the achievement of regulatory milestones. Eidos will also receive low double-digit royalty payments based on net sales of AG10 in Japan. The royalty rate is subject to reduction if Alexion is required to obtain intellectual property rights from third parties to develop, manufacture or commercialize AG10 in Japan, or upon the introduction of generic competition into market. Eidos is also in discussions with Alexion on a supply agreement that has not yet been finalized as of the period ending September 30, 2019.

The Company considers the future potential regulatory milestones of up to approximately $30.0 million and the sales-based royalties to be variable consideration. The Company excluded the regulatory milestones from the transaction price as of September 30, 2019 because we determined such payments to be fully constrained under ASC 606 due to the inherent uncertainty in the achievement of such milestone payments and are highly susceptible to factors outside of our control. As the sales-based royalties is all related to the license of the IP, the Company will recognize revenue in the period when subsequent sales are made pursuant to the sales-based royalty exception under ASC 606-10-55-65. The Company will re-evaluate the transaction price in each reporting period and as uncertain events are resolved or other changes in circumstances occur.

Related Party Transactions

9 Months Ended

Sep. 30, 2019

BridgeBio Pharma LLC

Related Party Transactions

15.	Related Party Transactions

Nonrecourse Notes

In 2016 and 2017 the Company entered into nonrecourse notes (the “Notes”) with two founders. The Notes were issued to facilitate the purchase of BBP LLC equity by two founders. The principal amount of the Notes was $0.3 million and mature in May 2021. The Notes were accounted for as an option for which the Company recognized equity-based compensation expense on issuance. The repayment of the Notes is recorded to additional paid-in capital as payments are received and the Notes were paid in full in February 2019.

PellePharm

During the three and nine months ended September 30, 2019, the Company provided nominal services to PellePharm.

MyoKardia Distribution

In April 2015, the Company acquired an interest in MyoKardia, Inc. for $1.0 million. This investment was subsequently disposed of in 2016 and the Company recognized a gain on disposal of $1.2 million in the year ended December 31, 2016. Prior to the execution of the merger of BridgeBio Pharma, LLC and BridgeBio LLC in June 2017, the Company distributed $1.2 million to its members in proportion to the number of units then outstanding and was required to distribute the remaining proceeds of $1.0 million. This liability is included in accrued distributions to unitholders in the condensed consolidated balance sheet as of December 31, 2018. The accrued distributions of $1.0 million were paid to unitholders in February 2019.

Equity-Based Compensation

9 Months Ended

Sep. 30, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Equity-Based Compensation

16.	Equity-Based Compensation

The Company recorded equity-based compensation in the following expense categories in its condensed consolidated statements of operations for employees and non-employees:

	Nine Months Ended September 30, 2019
	BridgeBio		Eidos		Other		Total
	(in thousands)
Research and development	$	609	$	1,630	$	121	$	2,360
General and administrative		6,767		2,095		145		9,007
Total equity-based compensation	$	7,376	$	3,725	$	266	$	11,367

	Nine Months Ended September 30, 2018
	BridgeBio		Eidos		Other		Total
	(in thousands)
Research and development	$	—	$	869	$	142	$	1,011
General and administrative		974		829		140		1,943
Total equity-based compensation	$	974	$	1,698	$	282	$	2,954

Equity-Based Awards of the Corporation

On June 22, 2019, the Corporation adopted the 2019 Stock Option and Incentive Plan (the “2019 Plan”), which became effective on June 25, 2019. The 2019 Plan provides for the grant of equity-based incentive awards, including common stock options and other equity-based awards. The Corporation initially reserved 11,500,000 shares of common stock for issuance of awards under the 2019 Plan, which may be allocated among stock options, awards of restricted common stock, restricted common units and other equity-based awards.

	Awards Available for Grant
Balance as of December 31, 2018		—
Authorized		11,500,000
Granted — Stock Options		(3,744,629	)
Granted — Restricted Stock		(6,819,455	)
Cancelled — Stock Options		15,039
Balance as of September 30, 2019		950,955

The 2019 Plan provides that the number of shares reserved and available for issuance will automatically increase each January 1, beginning on January 1, 2020, by 5% of the outstanding number of shares of common stock on the immediately preceding December 31, or such lesser number of shares as determined by the Compensation Committee of the Board of Directors.

Stock Option Grants of the Corporation

The fair value of each stock option grant was determined by BridgeBio at the grant date using a Black-Scholes option-pricing model with the following assumptions:

	Nine Months Ended September 30, 2019
Expected term (in years)	6.02-6.08
Expected volatility		37.5	%
Risk-free interest rate		1.86	%
Dividend yield		—
Weighted-average fair value of share-based awards granted	$	6.64

The following table summarizes the Corporation’s stock option activity under the 2019 Plan for the period through September 30, 2019:

	Options Outstanding			Weighted- Average Exercise Price per Option		Weighted- Average Remaining Contractual Life (years)		Aggregate Intrinsic Value
	(in thousands, except share and per share amounts)
Outstanding as of December 31, 2018		—		$	—		—	$	—
Granted		3,744,629		$	17.00
Cancelled		(15,039	)	$	17.00
Outstanding as of September 30, 2019		3,729,590		$	17.00		9.7	$	16,671
Exercisable as of September 30, 2019		232,736		$	17.00		9.7	$	1,040

On June 21, 2019, the Board of Directors approved the grant of options to purchase 3,696,429 shares of common stock to certain employees and non-employees of the Company at an exercise price equal to the IPO price of its common stock, which was $17.00 per share. On June 26, 2019, the Board of Directors approved the grant of options to purchase an additional 48,200 shares of common stock to certain employees and non-employees of the Company at the same exercise price. The options granted have a service condition and vest over a period of four years.

During the three and nine months ended September 30, 2019, the Company recognized equity-based compensation expense of $1.6 million and $1.6 million related to stock options under the 2019 Plan. As of September 30, 2019, there was $23.1 million of total unrecognized compensation cost related to stock options under the 2019 Plan. The unrecognized equity-based compensation cost is expected to be recognized over a weighted-average period of 3.7 years.

Restricted Stock Awards of the Corporation

As disclosed in Note 3, upon the Reorganization, all unvested outstanding management incentive units and common units of BBP LLC were cancelled and converted into shares of the Corporation’s restricted stock. The following table summarizes the Corporation’s restricted stock award activity under the 2019 Plan for the period through September 30, 2019:

	Unvested Shares of Restricted Stock Outstanding			Weighted- Average Grant Date Fair Value
Balance at December 31, 2018		—		$	—
BBP LLC units converted into shares of unvested restricted stock of the Corporation		6,819,455			3.38
Vested		(603,990	)		2.22
Balance at September 30, 2019		6,215,465		$	3.49

During the three and nine months ended September 30, 2019, the Company recognized equity-based compensation expense of $2.1 million and $2.1 million related to shares of restricted stock under the 2019 Plan. As of September 30, 2019, there was $28.1 million of total unrecognized compensation cost related to shares of restricted stock under the 2019 Plan. The unrecognized equity-based compensation cost is expected to be recognized over a weighted-average period of 3.7 years.

2019 Employee Stock Purchase Plan

On June 22, 2019, the Corporation adopted the 2019 Employee Stock Purchase Plan (the “ESPP”) which became effective on June 25, 2019. The ESPP initially reserves and authorizes the issuance of up to a total of 2,000,000 shares of common stock to participating employees. The ESPP provides that the number of shares reserved and available for issuance will automatically increase each January 1, beginning on January 1, 2020, by the lower of: i) 1% of the outstanding number of shares of common stock on the immediately preceding December 31, ii) 2,000,000 shares or iii) such lesser number of shares as determined by the Compensation Committee.

Under the ESPP, eligible employees of the Company may purchase shares of BridgeBio common stock through payroll deductions at a price equal to 85% of the lower of the fair market values of the stock as of the beginning or the end of six-month offering periods. An employee’s payroll deductions under the ESPP are limited to 15% of the employee’s compensation and employees may not purchase more than 3,500 of shares of BridgeBio common stock during any offering period.

During the three and nine months ended September 30, 2019, the Company recognized equity-based compensation expense of $0.3 million and $0.3 million related to the ESPP. As of September 30, 2019, 2,000,000 shares were reserved for future issuance under the ESPP.

Equity-Based Awards of BBP LLC

BBP LLC has historically issued management incentive units and common units (collectively, “BBP LLC equity-based awards”). As described in Note 3, BBP LLC equity-based awards were cancelled and exchanged for shares of BridgeBio restricted common stock. For the three and nine months ended September 30, 2019, equity-based compensation from BBP LLC equity-based awards was zero and $3.4 million. For the three and nine months ended September 30, 2018, equity-based compensation from BBP LLC equity-based awards was $0.3 million and $1.0 million.

The estimated grant-date fair value of each BBP LLC equity-based award was calculated using the Black-Scholes option pricing model, based on assumptions as follows:

	Nine Months Ended September 30,
	2019		2018
Expected term (in years)		1.50	0.75-1.50
Expected volatility	48.0%-49.0%		40.0%-45.0%
Risk-free interest rate	2.34%-2.56%		1.70%-2.22%
Dividend yield		—		—

The following table summarizes authorized BBP LLC equity-based awards activity:

	Equivalent Shares of the Corporation's Restricted Common Stock
Balance as of December 31, 2018		9,994,483
Authorized and granted		2,587,939
Cancelled		(842	)
Converted into common stock of the Corporation		(5,762,125	)
Converted into unvested restricted common stock of the Corporation		(6,819,455	)
Balance as of September 30, 2019		—

The following table summarizes vested BBP LLC equity-based awards activity:

	Equivalent Shares of the Corporation's Restricted Common Stock			Weighted- Average Grant Date Fair Value
Balance as of December 31, 2018		4,639,317		$	0.45
Vested		1,122,808			2.10
Converted into vested restricted common stock of the Corporation		(5,762,125	)		0.72
Balance as of September 30, 2019		—		$	—

Eidos

Common stock

Eidos has reserved shares of common stock for issuance as follows:

	September 30,
	2019		2018
Options issued and outstanding		1,435,668		1,041,334
Options available for future grants		486,915		371,004
Eidos ESPP shares available for future grants		104,540		143,540
Total		2,027,123		1,555,878

Stock options

The following table summarizes Eidos’s stock option activity for the nine months ended September 30, 2019:

	Options Available for Grant			Options Outstanding			Weighted- Average Exercise Price per Option		Weighted- Average Remaining Contractual Life (years)		Aggregate Intrinsic Value
	(in thousands, except share and per share amounts)
Outstanding as of December 31, 2018		747,057			1,329,762		$	8.55		9.4	$	6,928
Granted		(313,712	)		313,712			30.29
Exercised		—			(154,236	)		2.26
Cancelled		53,570			(53,570	)		7.24
Outstanding as of September 30, 2019		486,915			1,435,668			14.02		8.9	$	31,513
Vested and expected to vest as of September 30, 2019					238,717			7.17		8.5	$	6,876
Exercisable as of September 30, 2019					1,435,668		$	14.02		8.9	$	31,513

Employee stock options valuation

The fair value of employee and non-employee director stock option awards was estimated at the date of grant using a Black-Scholes option-pricing model with the following assumptions:

	Nine Months Ended September 30,
	2019			2018
Expected term (in years)		6.07			6.08
Expected volatility		72.2	%		70.9	%
Risk-free interest rate		2.00	%		2.79	%
Dividend yield		—			—
Weighted average fair value of share-based awards granted	$	20.09		$	8.38

Stock options granted to non-employees

Stock-based compensation related to stock options granted to non-employees is recognized as the stock options are earned. The fair value of the stock options granted to non-employees was calculated at each reporting date using the Black-Scholes option-pricing model with the following assumptions:

	Nine Months Ended September 30,
	2019			2018
Expected term (in years)		6.09			9.45
Expected volatility		73.7	%		74.4	%
Risk-free interest rate		2.52	%		3.04	%
Dividend yield		—			—

During the three and nine months ended September 30, 2019 and 2018, Eidos granted zero, 18,500, zero and 35,880 shares, respectively, to non-employee consultants. Eidos recognized immaterial stock-based compensation expense for non-employee awards during the three and nine months ended September 30, 2019 and 2018.

Stock-based compensation

As of September 30, 2019, there was $13.1 million of total unrecognized compensation cost related to unvested equity-based compensation arrangements under the Eidos 2016 Equity Incentive Plan and Eidos 2018 Stock Option and Incentive Plan. The unrecognized equity-based compensation cost is expected to be recognized over a weighted-average period of 2.7 years.

Income Taxes

9 Months Ended

Sep. 30, 2019

Income Tax Disclosure [Abstract]

Income Taxes

17.	Income Taxes

The Company is subject to U.S. federal and state income taxes as a corporation. The Company’s tax provision and the resulting effective tax rate for interim periods is determined based upon its estimated annual effective tax rate adjusted for the effect of discrete items arising in that quarter. Prior to the tax-free reorganization, BBP LLC was treated as a pass‑through entity for U.S. federal income tax purposes, and as such, was generally not subject to U.S. federal income tax at the entity level. Rather, the tax liability with respect to its taxable income was passed through to its unitholders.

Deferred tax assets and deferred tax liabilities are recognized based on temporary differences between the financial reporting and tax basis of assets and liabilities using statutory rates. A valuation allowance is recorded against deferred tax assets if it is more likely than not that some or all of the deferred tax assets will not be realized. Due to the uncertainty surrounding the realization of the favorable tax attributes in future tax returns, the Company has recorded a full valuation allowance against the Company’s otherwise recognizable net deferred tax assets.

The Company’s policy is to recognize interest and penalties associated with uncertain tax benefits as part of the income tax provision and include accrued interest and penalties with the related income tax liability on the consolidated balance sheet. To date, the Company has not recognized any interest and penalties in its consolidated statements of operations, nor has it accrued for or made payments for interest and penalties. The Company’s unrecognized gross tax benefits would not reduce the estimated annual effective tax rate if recognized because it has recorded a full valuation allowance on its deferred tax assets.

Net Loss Per Share

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Net Loss Per Share

18.	Net Loss Per Share

The following common stock equivalents were excluded from the computation of diluted net loss per share, because including them would have been antidilutive:

	As of September 30,
	2019		2018
Unvested restricted common stock		6,215,465		5,328,400
Common stock options issued and outstanding		3,729,590	—
Estimated shares issuable under the ESPP		72,949	—
		10,018,004		5,328,400

Subsequent Events

9 Months Ended

Sep. 30, 2019

Subsequent Events [Abstract]

Subsequent Events

19.	Subsequent Events

Significant financing events in relation to controlled VIEs

Subsequent to September 30, 2019, BridgeBio made an additional investment in Aspa of $4.0 million, Adrenas of $4.0 million, Theras of $2.0 million and Unnamed Entity #3 of $1.0 million.

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2019

Accounting Policies [Abstract]

Basis of Presentation

Variable Interest Entities and Voting Interest Entities

The Company has either created or made investments in the following entities:

Consolidated Entities	Relationship as of September 30, 2019	Date Control First Acquired	Ownership % as of September 30, 2019			Ownership % as of December 31, 2018
			(unaudited)
BridgeBio Services, Inc.	Wholly-owned subsidiary	April 2017		100	%		100	%
Fortify Therapeutics, Inc. (”Fortify”)	Wholly-owned subsidiary	June 2018		100	%		100	%
Sub20, Inc.	Wholly-owned subsidiary	June 2018		100	%		100	%
Unnamed Entity #1	Wholly-owned subsidiary	December 2018		100	%		100	%
Unnamed Entity #2	Wholly-owned subsidiary	April 2019		100	%		—
Unnamed Entity #3	Wholly-owned subsidiary	May 2019		100	%		—
BridgeBio Pharma LLC (”BBP LLC”)⁽¹⁾	Wholly-owned subsidiary	July 2019		100	%		—
BridgeBio Gene Therapy, LLC	Wholly-owned subsidiary	August 2019		100	%		—
Eidos Therapeutics, Inc. (”Eidos”)⁽²⁾	Partially-owned subsidiary	April 2016		66.3	%		62.5	%
Molecular Skin Therapeutics, Inc. (”MOST”)	Controlled VIE	July 2016		66.2	%		61.7	%
TheRas, Inc. (”Theras”)	Controlled VIE	August 2016		99.8	%		100	%
Quartz Therapeutics, Inc. (”Quartz”)	Controlled VIE	October 2016		89.0	%		89.0	%
PellePharm, Inc. (”PellePharm”)⁽³⁾	VIE	December 2016		43.3	%		43.3	%
Navire Pharma, Inc. (”Navire”)	Controlled VIE	February 2017		78.7	%		78.8	%
CoA Therapeutics, Inc. (”CoA”)	Controlled VIE	February 2017		99.5	%		99.5	%
Dermecular Therapeutics, Inc. (”Dermecular”)	Controlled VIE	April 2017		87.6	%		87.6	%
Phoenix Tissue Repair, Inc. (”PTR”)	Controlled VIE	July 2017		65.7	%		56.7	%
QED Therapeutics, Inc. (”QED”)	Controlled VIE	January 2018		97.5	%		94.4	%
Adrenas Therapeutics, Inc. (”Adrenas”)	Controlled VIE	January 2018		88.9	%		90.1	%
Orfan Biotech, Inc. (”Orfan”)	Controlled VIE	January 2018		89.0	%		85.1	%
Ferro Therapeutics, Inc. (”Ferro”)	Controlled VIE	March 2018		89.3	%		89.4	%
Origin Biosciences, Inc. (”Origin”)	Controlled VIE	April 2018		99.8	%		100	%
Venthera, Inc. (”Venthera”)	Controlled VIE	April 2018		83.2	%		82.0	%
Aspa Therapeutics, Inc. (”Aspa”)	Controlled VIE	June 2018		90.6	%		92.5	%
ML Bio Solutions, Inc. (”ML Bio”)	Controlled VIE	July 2019		50.5	%		—

(1)	BBP LLC was the original reporting entity prior to the Reorganization executed on July 1, 2019 as further described in Note 3.

(2)	Subsequent to the Eidos Therapeutics, Inc. (“Eidos”) initial public offering in June 2018 and through September 30, 2019, BridgeBio had a majority voting interest in Eidos and consolidates Eidos under the VOE model. Refer to Note 7.

(3)

Use of Estimates

Cash, Cash Equivalents and Restricted Cash

	September 30, 2019		September 30, 2018
	(in thousands)
Cash and cash equivalents	$	413,973	$	211,725
Restricted cash		424		359
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows	$	414,397	$	212,084

Marketable Securities

Fair Value Measurements

Level 1—Observable inputs such as unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date;

Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Deferred Offering Costs

Revenue Recognition

License Revenue

Cost of License Revenue

Comprehensive Loss

The Company’s comprehensive loss is comprised of changes in unrealized gains or losses on available-for-sale securities.

Net Loss per Share

Recent Accounting Pronouncements

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements Not Yet Adopted

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2019

Accounting Policies [Abstract]

Summary of Investments

The Company has either created or made investments in the following entities:

Consolidated Entities	Relationship as of September 30, 2019	Date Control First Acquired	Ownership % as of September 30, 2019			Ownership % as of December 31, 2018
			(unaudited)
BridgeBio Services, Inc.	Wholly-owned subsidiary	April 2017		100	%		100	%
Fortify Therapeutics, Inc. (”Fortify”)	Wholly-owned subsidiary	June 2018		100	%		100	%
Sub20, Inc.	Wholly-owned subsidiary	June 2018		100	%		100	%
Unnamed Entity #1	Wholly-owned subsidiary	December 2018		100	%		100	%
Unnamed Entity #2	Wholly-owned subsidiary	April 2019		100	%		—
Unnamed Entity #3	Wholly-owned subsidiary	May 2019		100	%		—
BridgeBio Pharma LLC (”BBP LLC”)⁽¹⁾	Wholly-owned subsidiary	July 2019		100	%		—
BridgeBio Gene Therapy, LLC	Wholly-owned subsidiary	August 2019		100	%		—
Eidos Therapeutics, Inc. (”Eidos”)⁽²⁾	Partially-owned subsidiary	April 2016		66.3	%		62.5	%
Molecular Skin Therapeutics, Inc. (”MOST”)	Controlled VIE	July 2016		66.2	%		61.7	%
TheRas, Inc. (”Theras”)	Controlled VIE	August 2016		99.8	%		100	%
Quartz Therapeutics, Inc. (”Quartz”)	Controlled VIE	October 2016		89.0	%		89.0	%
PellePharm, Inc. (”PellePharm”)⁽³⁾	VIE	December 2016		43.3	%		43.3	%
Navire Pharma, Inc. (”Navire”)	Controlled VIE	February 2017		78.7	%		78.8	%
CoA Therapeutics, Inc. (”CoA”)	Controlled VIE	February 2017		99.5	%		99.5	%
Dermecular Therapeutics, Inc. (”Dermecular”)	Controlled VIE	April 2017		87.6	%		87.6	%
Phoenix Tissue Repair, Inc. (”PTR”)	Controlled VIE	July 2017		65.7	%		56.7	%
QED Therapeutics, Inc. (”QED”)	Controlled VIE	January 2018		97.5	%		94.4	%
Adrenas Therapeutics, Inc. (”Adrenas”)	Controlled VIE	January 2018		88.9	%		90.1	%
Orfan Biotech, Inc. (”Orfan”)	Controlled VIE	January 2018		89.0	%		85.1	%
Ferro Therapeutics, Inc. (”Ferro”)	Controlled VIE	March 2018		89.3	%		89.4	%
Origin Biosciences, Inc. (”Origin”)	Controlled VIE	April 2018		99.8	%		100	%
Venthera, Inc. (”Venthera”)	Controlled VIE	April 2018		83.2	%		82.0	%
Aspa Therapeutics, Inc. (”Aspa”)	Controlled VIE	June 2018		90.6	%		92.5	%
ML Bio Solutions, Inc. (”ML Bio”)	Controlled VIE	July 2019		50.5	%		—

(1)	BBP LLC was the original reporting entity prior to the Reorganization executed on July 1, 2019 as further described in Note 3.

(2)	Subsequent to the Eidos Therapeutics, Inc. (“Eidos”) initial public offering in June 2018 and through September 30, 2019, BridgeBio had a majority voting interest in Eidos and consolidates Eidos under the VOE model. Refer to Note 7.

(3)

Summary of Reconciliation of Cash, Cash Equivalents and Restricted Cash

	September 30, 2019		September 30, 2018
	(in thousands)
Cash and cash equivalents	$	413,973	$	211,725
Restricted cash		424		359
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows	$	414,397	$	212,084

Reorganization (Tables)

9 Months Ended

Sep. 30, 2019

Reorganizations [Abstract]

Summary of Number of Shares of Common Stock Issued to BBP LLC Unitholders in Reorganization

The number of shares of the Corporation’s common stock issued to BBP LLC unitholders in the Reorganization is shown in the below table by unit class:

BBP LLC unit class	Number of the Corporation's Shares Issued
Series D Preferred Units		30,459,426
Series C Preferred Units		31,992,709
Series B Preferred Units		17,794,455
Series A Preferred Units		4,918,881
Founder Units		2,252,916
Common Units		1,794,823
Management Incentive Units		10,786,757
Total shares issued		99,999,967

Summary of Reorganization Occurred at Beginning of Earliest Period Presented in Financial Statements

	December 31, 2018
	As Reported			Adjustment			As Adjusted
	(in thousands)
Redeemable convertible preferred units	$	478,865		$	(478,865	)	$	—
Redeemable founder units		1,754			(1,754	)		—
Redeemable common units		1,619			(1,619	)		—
Management incentive units		3,221			(3,221	)		—
Redeemable convertible noncontrolling interests		122			—			122
Stockholders' Equity (Members’ Deficit):
Undesignated preferred stock		—			—			—
Common stock		—			92			92
Additional paid-in capital		—			494,231			494,231
Accumulated deficit		(170,580	)		(8,864	)		(179,444	)
Total BridgeBio stockholders' equity (members' deficit)		(170,580	)		485,459			314,879
Noncontrolling interests		62,361			—			62,361
Total stockholders' equity (members' deficit)	$	(108,219	)	$	485,459		$	377,240

	December 31, 2017
	As Reported			Adjustment			As Adjusted
	(in thousands)
Redeemable convertible preferred units	$	143,867		$	(143,867	)	$	—
Redeemable founder units		1,754			(1,754	)		—
Redeemable common units		1,431			(1,431	)		—
Management incentive units		226			(226	)		—
Redeemable convertible noncontrolling interests		833			—			833
Stockholders' Equity (Members’ Deficit):
Undesignated preferred stock		—			—			—
Common stock		—			51			51
Additional paid-in capital		—			134,495			134,495
Accumulated deficit		(61,427	)		12,732			(48,695	)
Total BridgeBio stockholders' equity (members' deficit)		(61,427	)		147,278			85,851
Noncontrolling interests		2,498			—			2,498
Total stockholders' equity (members' deficit)	$	(58,929	)	$	147,278		$	88,349

Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

	September 30, 2019
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets
Cash equivalents:
Money market funds	$	256,581	$	256,581	$	—	$	—
Repurchase agreements		100,000		100,000		—		—
Total cash equivalents		356,581		356,581		—		—
Short-term marketable securities:
Commercial paper		65,280		—		65,280		—
Corporate debt securities		56,800		—		56,800		—
Total short-term marketable securities		122,080		—		122,080		—
Long-term marketable securities:
U.S. treasury notes		45,480		—		45,480		—
Corporate debt securities		30,406		—		30,406		—
Total long-term marketable securities		75,886		—		75,886		—
Total cash equivalents and marketable securities	$	554,547	$	356,581	$	197,966	$	—
Liabilities:
LEO Call Option liability	$	4,021	$	—	$	—	$	4,021

	December 31, 2018
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets:
Money market funds	$	395,780	$	395,780	$	—	$	—
Liabilities:
LEO Call Option liability	$	3,009	$	—	$	—	$	3,009

Schedule of Estimated Fair Value of LEO Call Option

	September 30, 2019		December 31, 2018
Probability of milestone achievement	12.0%-84.0%		12.0%-84.0%
Discount rate	1.7%-14.5%		2.7%-11.0%
Expected term (in years)	0.83-4.13		0.58-4.38
Expected volatility	60.0%-69.0%		67.0%-79.0%
Risk-free interest rate	3.12%-3.34%		2.51%-2.78%
Dividend yield		—		—

Summary of Changes in Estimated Fair Value of LEO Call Option

The following table sets forth a summary of the changes in the estimated fair value of the LEO Call Option:

	Total
	(in thousands)
Balance as of December 31, 2018	$	3,009
Change in fair value upon remeasurement recognized in other (income) expense		1,012
Balance as of September 30, 2019	$	4,021

Cash Equivalents and Marketable Securities (Tables)

9 Months Ended

Sep. 30, 2019

Cash Equivalents And Marketable Securities [Abstract]

Schedule of Cash Equivalent and Marketable Securities Classified as Available-for-Sale

Cash equivalents and marketable securities classified as available-for-sale consisted of the following:

	September 30, 2019
	Amortized Cost Basis		Unrealized Gains		Unrealized Losses			Fair value
	(in thousands)
Cash equivalents:
Money market funds	$	256,581	$	—	$	—		$	256,581
Repurchase agreements		100,000		—		—			100,000
Total cash equivalents		356,581		—		—			356,581
Short-term marketable securities:
Commercial paper		65,280		—		—			65,280
Corporate debt securities		56,745		62		(7	)		56,800
Total short-term marketable securities		122,025		62		(7	)		122,080
Long-term marketable securities:
U.S. treasury notes		30,363		48		(5	)		30,406
Corporate debt securities		45,426		65		(11	)		45,480
Total long-term marketable securities		75,789		113		(16	)		75,886
Total cash equivalents and marketable securities	$	554,395	$	175	$	(23	)	$	554,547

Balance Sheet Components (Tables)

9 Months Ended

Sep. 30, 2019

Balance Sheet Components [Abstract]

Summary of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following:

	September 30, 2019		December 31, 2018
	(in thousands)
Prepaid clinical and research related expenses	$	8,750	$	7,087
Other current assets		13,352		2,050
Total prepaid expenses and other current assets	$	22,102	$	9,137

Summary of Other Accrued Liabilities

Other accrued liabilities consist of the following:

	September 30, 2019		December 31, 2018
	(in thousands)
Accrued professional services	$	1,570	$	772
Accrued other liabilities		3,219		1,328
Total other accrued liabilities	$	4,789	$	2,100

Variable Interest Entities and Voting Interest Model (Tables)

9 Months Ended

Sep. 30, 2019

Variable Interest Entities And Voting Interest Model [Abstract]

Summary of Assets and Liabilities for Consolidated VIEs

The following table provides the assets and liabilities for all consolidated VIEs as of September 30, 2019:

	Adrenas		Aspa		PTR		QED		Venthera		All Other		Total
	(in thousands)
Assets:
Current assets:
Cash and cash equivalents	$	793	$	904	$	6,782	$	24,084	$	3,113	$	33,557	$	69,233
Prepaid expenses and other current assets		1,261		2,811		662		5,060		222		2,379		12,395
Total current assets		2,054		3,715		7,444		29,144		3,335		35,936		81,628
Property and equipment, net		631		292		71		310		—		279		1,583
Other assets		—		—		1		348		—		—		349
Total assets	$	2,685	$	4,007	$	7,516	$	29,802	$	3,335	$	36,215	$	83,560
Liabilities:
Current liabilities:
Accounts payable	$	350	$	320	$	131	$	1,893	$	600	$	1,798	$	5,092
Accrued compensation and benefits		466		49		368		2,249		37		1,253		4,422
Accrued research and development liabilities		927		915		93		2,380		271		3,954		8,540
Other accrued liabilities		270		274		8		677		2		238		1,469
Total current liabilities		2,013		1,558		600		7,199		910		7,243		19,523
Other liabilities		—		—		—		163		—		24		187
Total liabilities	$	2,013	$	1,558	$	600	$	7,362	$	910	$	7,267	$	19,710

The following table provides the assets and liabilities for all consolidated VIEs as of December 31, 2018:

	Adrenas		Aspa		PTR		QED		Venthera		All Other		Total
	(in thousands)
Assets:
Current assets:
Cash and cash equivalents	$	3,046	$	4,259	$	6,934	$	8,630	$	2,913	$	6,713	$	32,495
Prepaid expenses and other current assets		665		1,722		28		3,240		—		321		5,976
Total current assets		3,711		5,981		6,962		11,870		2,913		7,034		38,471
Property and equipment, net		584		129		88		181		—		277		1,259
Other assets		7		—		41		—		—		28		76
Total assets	$	4,302	$	6,110	$	7,091	$	12,051	$	2,913	$	7,339	$	39,806
Liabilities:
Current liabilities:
Accounts payable	$	1,876	$	1,187	$	621	$	3,537	$	333	$	1,737	$	9,291
Accrued compensation and benefits		377		30		287		1,392		—		467		2,553
Accrued research and development liabilities		227		728		—		4,390		—		1,251		6,596
Other accrued liabilities		28		32		8		229		9		82		388
Total current liabilities		2,508		1,977		916		9,548		342		3,537		18,828
Other liabilities		—		—		—		150		—		29		179
Total liabilities	$	2,508	$	1,977	$	916	$	9,698	$	342	$	3,566	$	19,007

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Noncontrolling Interests (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of Noncontrolling Interests Balance

The following table provides a rollforward of the noncontrolling interests balance:

	Adrenas			Aspa			Eidos			PTR			Venthera			All Other			Total
	(in thousands)
Balance as of December 31, 2018	$	217		$	245		$	58,185		$	2,728		$	449		$	537		$	62,361
Issuance (repurchase) of noncontrolling interest		2			2			1,027			34			1			254			1,320
Transfers to (from) noncontrolling interest		874			472			(337	)		(10	)		(1	)		1,100			2,098
Net loss attributable to noncontrolling interest		(451	)		(222	)		(4,365	)		(1,580	)		(192	)		(651	)		(7,461	)
Balance as of March 31, 2019		642			497			54,510			1,172			257			1,240			58,318
Issuance (repurchase) of noncontrolling interest		3			2			(27,030	)		—			—			1			(27,024	)
Transfers to (from) noncontrolling interest		32			208			23,751			4			273			514			24,782
Net loss attributable to noncontrolling interest		(554	)		(471	)		(5,200	)		(552	)		(353	)		(555	)		(7,685	)
Balance as of June 30, 2019		123			236			46,031			624			177			1,200			48,391
Issuance (repurchase) of noncontrolling interest		6			9			(1,205	)		12			2			1,078			(98	)
Transfers to (from) noncontrolling interest		388			316			8,220			2,257			506			2,008			13,695
Net income (loss) attributable to noncontrolling interest		(401	)		(399	)		2,326			(514	)		(298	)		(763	)		(49	)
Balance as of September 30, 2019	$	116		$	162		$	55,372		$	2,379		$	387		$	3,523		$	61,939

Redeemable Convertible Noncontrolling Interests

Schedule of Redeemable Convertible Noncontrolling Interests Balance

The following table provides a rollforward of the redeemable convertible noncontrolling interests balance, as follows:

	Orfan			QED			ML Bio			Total
	(in thousands)
Balance as of December 31, 2018	$	8		$	114		$	—		$	122
Net loss attributable to redeemable convertible noncontrolling interest		(34	)		(756	)		—			(790	)
Transfers to redeemable convertible noncontrolling interest		57			813			—			870
Balance as of March 31, 2019		31			171			—			202
Net loss attributable to redeemable convertible noncontrolling interest		(23	)		(662	)		—			(685	)
Transfers to redeemable convertible noncontrolling interest		47			611			—			658
Balance as of June 30, 2019		55			120			—			175
Issuance of redeemable convertible noncontrolling interest		—			—			3,196			3,196
Net loss attributable to redeemable convertible noncontrolling interest		(37	)		(509	)		(89	)		(635	)
Transfers to redeemable convertible noncontrolling interest		(1	)		891			(1,056	)		(166	)
Balance as of September 30, 2019	$	17		$	502		$	2,051		$	2,570

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2019

Commitments And Contingencies Disclosure [Abstract]

Schedule of Future Minimum Lease Payments

As of September 30, 2019, future minimum lease payments for all noncancelable operating leases with remaining lease terms in excess of one year, are as follows:

	Amount
	(in thousands)
Remainder of 2019	$	542
Year Ending December 31:
2020		2,462
2021		2,156
2022		1,444
2023		1,107
Thereafter		2,766
Total future minimum lease payments	$	10,477

Equity-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2019

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Equity Based Compensation for Employees and Non Employees

The Company recorded equity-based compensation in the following expense categories in its condensed consolidated statements of operations for employees and non-employees:

	Nine Months Ended September 30, 2019
	BridgeBio		Eidos		Other		Total
	(in thousands)
Research and development	$	609	$	1,630	$	121	$	2,360
General and administrative		6,767		2,095		145		9,007
Total equity-based compensation	$	7,376	$	3,725	$	266	$	11,367

	Nine Months Ended September 30, 2018
	BridgeBio		Eidos		Other		Total
	(in thousands)
Research and development	$	—	$	869	$	142	$	1,011
General and administrative		974		829		140		1,943
Total equity-based compensation	$	974	$	1,698	$	282	$	2,954

Summary of Awards Available for Grant

The Corporation initially reserved 11,500,000 shares of common stock for issuance of awards under the 2019 Plan, which may be allocated among stock options, awards of restricted common stock, restricted common units and other equity-based awards.

	Awards Available for Grant
Balance as of December 31, 2018		—
Authorized		11,500,000
Granted — Stock Options		(3,744,629	)
Granted — Restricted Stock		(6,819,455	)
Cancelled — Stock Options		15,039
Balance as of September 30, 2019		950,955

Schedule of Assumptions Used to Determine Fair Value of Stock Option Granted

The fair value of each stock option grant was determined by BridgeBio at the grant date using a Black-Scholes option-pricing model with the following assumptions:

	Nine Months Ended September 30, 2019
Expected term (in years)	6.02-6.08
Expected volatility		37.5	%
Risk-free interest rate		1.86	%
Dividend yield		—
Weighted-average fair value of share-based awards granted	$	6.64

Summary of Stock Option Activity

The following table summarizes the Corporation’s stock option activity under the 2019 Plan for the period through September 30, 2019:

	Options Outstanding			Weighted- Average Exercise Price per Option		Weighted- Average Remaining Contractual Life (years)		Aggregate Intrinsic Value
	(in thousands, except share and per share amounts)
Outstanding as of December 31, 2018		—		$	—		—	$	—
Granted		3,744,629		$	17.00
Cancelled		(15,039	)	$	17.00
Outstanding as of September 30, 2019		3,729,590		$	17.00		9.7	$	16,671
Exercisable as of September 30, 2019		232,736		$	17.00		9.7	$	1,040

Summary of Restricted Stock Award Activity

The following table summarizes the Corporation’s restricted stock award activity under the 2019 Plan for the period through September 30, 2019:

	Unvested Shares of Restricted Stock Outstanding			Weighted- Average Grant Date Fair Value
Balance at December 31, 2018		—		$	—
BBP LLC units converted into shares of unvested restricted stock of the Corporation		6,819,455			3.38
Vested		(603,990	)		2.22
Balance at September 30, 2019		6,215,465		$	3.49

BBP LLC

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Estimated Grant Date Fair Value of Each Equity-Based Awards

The estimated grant-date fair value of each BBP LLC equity-based award was calculated using the Black-Scholes option pricing model, based on assumptions as follows:

	Nine Months Ended September 30,
	2019		2018
Expected term (in years)		1.50	0.75-1.50
Expected volatility	48.0%-49.0%		40.0%-45.0%
Risk-free interest rate	2.34%-2.56%		1.70%-2.22%
Dividend yield		—		—

Summary of Authorized Equity-Based Awards Activity

The following table summarizes authorized BBP LLC equity-based awards activity:

	Equivalent Shares of the Corporation's Restricted Common Stock
Balance as of December 31, 2018		9,994,483
Authorized and granted		2,587,939
Cancelled		(842	)
Converted into common stock of the Corporation		(5,762,125	)
Converted into unvested restricted common stock of the Corporation		(6,819,455	)
Balance as of September 30, 2019		—

Summary of Vested Equity-Based Awards Activity

The following table summarizes vested BBP LLC equity-based awards activity:

	Equivalent Shares of the Corporation's Restricted Common Stock			Weighted- Average Grant Date Fair Value
Balance as of December 31, 2018		4,639,317		$	0.45
Vested		1,122,808			2.10
Converted into vested restricted common stock of the Corporation		(5,762,125	)		0.72
Balance as of September 30, 2019		—		$	—

Eidos

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Stock Option Activity

The following table summarizes Eidos’s stock option activity for the nine months ended September 30, 2019:

	Options Available for Grant			Options Outstanding			Weighted- Average Exercise Price per Option		Weighted- Average Remaining Contractual Life (years)		Aggregate Intrinsic Value
	(in thousands, except share and per share amounts)
Outstanding as of December 31, 2018		747,057			1,329,762		$	8.55		9.4	$	6,928
Granted		(313,712	)		313,712			30.29
Exercised		—			(154,236	)		2.26
Cancelled		53,570			(53,570	)		7.24
Outstanding as of September 30, 2019		486,915			1,435,668			14.02		8.9	$	31,513
Vested and expected to vest as of September 30, 2019					238,717			7.17		8.5	$	6,876
Exercisable as of September 30, 2019					1,435,668		$	14.02		8.9	$	31,513

Summary of Reserved Shares of Common Stock for Issuance

Eidos has reserved shares of common stock for issuance as follows:

	September 30,
	2019		2018
Options issued and outstanding		1,435,668		1,041,334
Options available for future grants		486,915		371,004
Eidos ESPP shares available for future grants		104,540		143,540
Total		2,027,123		1,555,878

Eidos | Employee Stock Options Valuation

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Assumptions Used to Determine Fair Value of Stock Option Granted

The fair value of employee and non-employee director stock option awards was estimated at the date of grant using a Black-Scholes option-pricing model with the following assumptions:

	Nine Months Ended September 30,
	2019			2018
Expected term (in years)		6.07			6.08
Expected volatility		72.2	%		70.9	%
Risk-free interest rate		2.00	%		2.79	%
Dividend yield		—			—
Weighted average fair value of share-based awards granted	$	20.09		$	8.38

Eidos | Stock Options Granted To Non-Employees

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Assumptions Used to Determine Fair Value of Stock Option Granted

The fair value of the stock options granted to non-employees was calculated at each reporting date using the Black-Scholes option-pricing model with the following assumptions:

	Nine Months Ended September 30,
	2019			2018
Expected term (in years)		6.09			9.45
Expected volatility		73.7	%		74.4	%
Risk-free interest rate		2.52	%		3.04	%
Dividend yield		—			—

Net Loss Per Share (Tables)

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Schedule of Common Stock Equivalents were Excluded from Computation of Diluted Net Loss per Share

The following common stock equivalents were excluded from the computation of diluted net loss per share, because including them would have been antidilutive:

	As of September 30,
	2019		2018
Unvested restricted common stock		6,215,465		5,328,400
Common stock options issued and outstanding		3,729,590	—
Estimated shares issuable under the ESPP		72,949	—
		10,018,004		5,328,400

Organization and Description of Business - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		9 Months Ended
	Jul. 01, 2019	Sep. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Organization And Description Of Business [Line Items]
Entity date of incorporation		May 17, 2019
Entity incorporation, state		DE
Net proceeds from IPO, after deducting underwriters’ discounts and commissions		$ 366,237
Accumulated deficit		366,573	$ 179,444	$ 48,695
Cash, cash equivalents and marketable securities		611,900
BridgeBio Pharma, Inc
Organization And Description Of Business [Line Items]
Cash, cash equivalents and marketable securities		$ 364,500
Common Stock
Organization And Description Of Business [Line Items]
Net proceeds from IPO, after deducting underwriters’ discounts and commissions	$ 366,200
Underwriters' discounts and commissions	28,100
Deferred offering costs	$ 6,500
Initial Public Offering \| Common Stock
Organization And Description Of Business [Line Items]
Sale of stock, number of shares issued and sold	23,575,000
Sale of stock, public offering price per share	$ 17.00
Over-Allotment Option \| Common Stock
Organization And Description Of Business [Line Items]
Sale of stock, number of shares issued and sold	3,075,000

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018
Summary Of Significant Accounting Policies [Line Items]
Cash, cash equivalents and restricted cash maturity period	90 days
Restricted cash	$ 424,000		$ 359,000
Restricted Cash, Asset, Statement of Financial Position [Extensible List]	bbio:PrepaidExpensesOtherCurrentAssetsAndOtherAssetsMember
Restricted cash, noncurrent		$ 200,000
Restricted Cash, Noncurrent, Asset, Statement of Financial Position [Extensible List]		us-gaap:OtherNoncurrentAssetsMember
Cash and cash equivalents	$ 413,973,000	$ 436,086,000	$ 211,725,000
BridgeBio
Summary Of Significant Accounting Policies [Line Items]
Cash and cash equivalents	166,600,000	238,700,000
BBP LLC \| Other Assets
Summary Of Significant Accounting Policies [Line Items]
Deferred offering costs	$ 0	$ 0
Minimum
Summary Of Significant Accounting Policies [Line Items]
Percentage of voting shares	50.00%
Available for sale of marketable securities maturity period	90 days

Summary of Significant Accounting Policies - Summary of Investments (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
BridgeBio Services, Inc \| Wholly-owned Subsidiary
Variable Interest Entity [Line Items]
Date Control First Acquired	2017-04
Ownership %	100.00%	100.00%
Fortify Therapeutics Inc \| Wholly-owned Subsidiary
Variable Interest Entity [Line Items]
Date Control First Acquired	2018-06
Ownership %	100.00%	100.00%
Sub20, Inc \| Wholly-owned Subsidiary
Variable Interest Entity [Line Items]
Date Control First Acquired	2018-06
Ownership %	100.00%	100.00%
Unnamed Entity 1 \| Wholly-owned Subsidiary
Variable Interest Entity [Line Items]
Date Control First Acquired	2018-12
Ownership %	100.00%	100.00%
Unnamed Entity 2 \| Wholly-owned Subsidiary
Variable Interest Entity [Line Items]
Date Control First Acquired	2019-04
Ownership %	100.00%
Unnamed Entity 3 \| Wholly-owned Subsidiary
Variable Interest Entity [Line Items]
Date Control First Acquired	2019-05
Ownership %	100.00%
BridgeBio Pharma, LLC \| Wholly-owned Subsidiary
Variable Interest Entity [Line Items]
Date Control First Acquired	2019-07
Ownership %	100.00%
BridgeBio Gene Therapy, LLC \| Wholly-owned Subsidiary
Variable Interest Entity [Line Items]
Date Control First Acquired	2019-08
Ownership %	100.00%
Eidos \| Partially-owned Subsidiary
Variable Interest Entity [Line Items]
Date Control First Acquired	2016-04
Ownership %	66.30%	62.50%
Molecular Skin Therapeutics, Inc \| Controlled VIE
Variable Interest Entity [Line Items]
Date Control First Acquired	2016-07
Ownership %	66.20%	61.70%
TheRas, Inc \| Controlled VIE
Variable Interest Entity [Line Items]
Date Control First Acquired	2016-08
Ownership %	99.80%	100.00%
Quartz Therapeutics, Inc \| Controlled VIE
Variable Interest Entity [Line Items]
Date Control First Acquired	2016-10
Ownership %	89.00%	89.00%
PellePharm, Inc \| VIE
Variable Interest Entity [Line Items]
Date Control First Acquired	2016-12
Ownership %	43.30%	43.30%
Navire Pharma, Inc \| Controlled VIE
Variable Interest Entity [Line Items]
Date Control First Acquired	2017-02
Ownership %	78.70%	78.80%
CoA Therapeutics, Inc \| Controlled VIE
Variable Interest Entity [Line Items]
Date Control First Acquired	2017-02
Ownership %	99.50%	99.50%
Dermecular Therapeutics, Inc \| Controlled VIE
Variable Interest Entity [Line Items]
Date Control First Acquired	2017-04
Ownership %	87.60%	87.60%
Phoenix Tissue Repair, Inc (“PTR”) \| Controlled VIE
Variable Interest Entity [Line Items]
Date Control First Acquired	2017-07
Ownership %	65.70%	56.70%
QED Therapeutics, Inc \| Controlled VIE
Variable Interest Entity [Line Items]
Date Control First Acquired	2018-01
Ownership %	97.50%	94.40%
Adrenas Therapeutics, Inc \| Controlled VIE
Variable Interest Entity [Line Items]
Date Control First Acquired	2018-01
Ownership %	88.90%	90.10%
Orfan Biotech, Inc \| Controlled VIE
Variable Interest Entity [Line Items]
Date Control First Acquired	2018-01
Ownership %	89.00%	85.10%
Ferro Therapeutics, Inc. \| Controlled VIE
Variable Interest Entity [Line Items]
Date Control First Acquired	2018-03
Ownership %	89.30%	89.40%
Origin Biosciences, Inc. \| Controlled VIE
Variable Interest Entity [Line Items]
Date Control First Acquired	2018-04
Ownership %	99.80%	100.00%
Venthera, Inc. \| Controlled VIE
Variable Interest Entity [Line Items]
Date Control First Acquired	2018-04
Ownership %	83.20%	82.00%
Aspa Therapeutics, Inc \| Controlled VIE
Variable Interest Entity [Line Items]
Date Control First Acquired	2018-06
Ownership %	90.60%	92.50%
ML Bio Solutions, Inc. \| Controlled VIE
Variable Interest Entity [Line Items]
Date Control First Acquired	2019-07
Ownership %	50.50%

Summary of Significant Accounting Policies - Summary of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	$ 413,973	$ 436,086	$ 211,725
Restricted cash	424		359
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows	$ 414,397	$ 436,245	$ 212,084	$ 92,376

Reorganization - Summary of Number of Shares of Common Stock Issued to BBP LLC Unitholders inReorganization (Details) - BBP LLC	Jun. 13, 2019 shares
Reorganization [Line Items]
Number of BBP LLC shares issued	99,999,967
Series D Preferred Units
Reorganization [Line Items]
Number of BBP LLC shares issued	30,459,426
Series C Preferred Units
Reorganization [Line Items]
Number of BBP LLC shares issued	31,992,709
Series B Preferred Units
Reorganization [Line Items]
Number of BBP LLC shares issued	17,794,455
Series A Preferred Units
Reorganization [Line Items]
Number of BBP LLC shares issued	4,918,881
Founder Units
Reorganization [Line Items]
Number of BBP LLC shares issued	2,252,916
Common Units
Reorganization [Line Items]
Number of BBP LLC shares issued	1,794,823
Management Incentive Units
Reorganization [Line Items]
Number of BBP LLC shares issued	10,786,757

Reorganization - Additional Information (Details)	Jun. 13, 2019 shares
BBP LLC
Reorganization [Line Items]
Plan of reorganization, exchanged for number of shares	6,819,455

Reorganization - Summary of Reorganization Occurred at Beginning of Earliest Period Presented in Financial Statements (Detail) - USD ($)
$ in Thousands

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

$ 2,570

$ 122

Undesignated preferred stock

117

Additional paid-in capital

826,062

494,231

134,495

(366,573)

(179,444)

(48,695)

459,758

314,879

85,851

Noncontrolling interests

61,939

$ 48,391

$ 58,318

62,361

2,498

521,697

211,316

310,459

377,240

^[1]

$ 165,876

$ 204,374

$ 61,694

88,349

^[2]

As Reported

Undesignated preferred stock

(170,580)

(61,427)

(170,580)

(61,427)

Noncontrolling interests

62,361

2,498

(108,219)

(58,929)

Adjustment

Undesignated preferred stock

Additional paid-in capital

494,231

134,495

(8,864)

12,732

485,459

147,278

Redeemable Convertible Preferred Units | As Reported

485,459

147,278

Redeemable Convertible Preferred Units | Adjustment

478,865

143,867

Redeemable Founder Units | As Reported

(478,865)

(143,867)

Redeemable Founder Units | Adjustment

1,754

Redeemable Common Units | As Reported

(1,754)

Redeemable Common Units | Adjustment

1,619

1,431

Management Incentive Units | As Reported

(1,619)

(1,431)

Management Incentive Units | Adjustment

3,221

226

Redeemable Convertible Noncontrolling Interests

(3,221)

(226)

Redeemable Convertible Noncontrolling Interests | As Reported

$ 2,570

$ 175

$ 202

122

^[1]

$ 912

$ 3,192

$ 1,550

833

^[2]

Redeemable Noncontrolling Interest [Line Items]

$ 122

$ 833

[1]	The consolidated balances as of December 31, 2018 are derived from the audited consolidated financial statements as of that date and were retroactively adjusted, including shares and per share amounts, as a result of the Reorganization. See Note 3 to the condensed consolidated financial statements for additional details.
[2]	The consolidated balances as of December 31, 2017 are derived from the audited consolidated financial statements as of that date and were retroactively adjusted, including shares and per share amounts, as a result of the Reorganization. See Note 3 to the condensed consolidated financial statements for additional details.

Fair Value Measurement - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Cash equivalents:
Total cash equivalents	$ 356,581
Repurchase Agreements
Cash equivalents:
Total cash equivalents	100,000
Recurring
Cash equivalents:
Total cash equivalents	356,581
Short-term marketable securities:
Total short-term marketable securities	122,080
Long-term marketable securities:
Total long-term marketable securities	75,886
Total cash equivalents and marketable securities	554,547
Liabilities:
LEO Call Option liability	4,021	$ 3,009
Recurring \| Repurchase Agreements
Cash equivalents:
Total cash equivalents	100,000
Recurring \| U.S. Treasury Notes
Long-term marketable securities:
Total long-term marketable securities	45,480
Recurring \| Money Market Funds
Cash equivalents:
Total cash equivalents	256,581	395,780
Recurring \| Commercial Paper
Short-term marketable securities:
Total short-term marketable securities	65,280
Recurring \| Corporate Debt Securities
Short-term marketable securities:
Total short-term marketable securities	56,800
Long-term marketable securities:
Total long-term marketable securities	30,406
Recurring \| Level 1
Cash equivalents:
Total cash equivalents	356,581
Long-term marketable securities:
Total cash equivalents and marketable securities	356,581
Recurring \| Level 1 \| Repurchase Agreements
Cash equivalents:
Total cash equivalents	100,000
Recurring \| Level 1 \| Money Market Funds
Cash equivalents:
Total cash equivalents	256,581	395,780
Recurring \| Level 2
Short-term marketable securities:
Total short-term marketable securities	122,080
Long-term marketable securities:
Total long-term marketable securities	75,886
Total cash equivalents and marketable securities	197,966
Recurring \| Level 2 \| U.S. Treasury Notes
Long-term marketable securities:
Total long-term marketable securities	45,480
Recurring \| Level 2 \| Commercial Paper
Short-term marketable securities:
Total short-term marketable securities	65,280
Recurring \| Level 2 \| Corporate Debt Securities
Short-term marketable securities:
Total short-term marketable securities	56,800
Long-term marketable securities:
Total long-term marketable securities	30,406
Recurring \| Level 3
Liabilities:
LEO Call Option liability	$ 4,021	$ 3,009

Fair Value Measurement - Additional Information (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair value assets, transfers between Level 1, Level 2 or Level 3	$ 0	$ 0
Fair value liabilities, transfers between Level 1, Level 2 or Level 3	$ 0	$ 0

Fair Value Measurement - Schedule of Estimated Fair Value of LEO Call Option (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Expected term (in years)	9 months 29 days	6 months 29 days
Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Expected term (in years)	4 years 1 month 17 days	4 years 4 months 17 days
Probability of Milestone Achievement \| Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	12.0	12.0
Probability of Milestone Achievement \| Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	84.0	84.0
Discount Rate \| Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	1.7	2.7
Discount Rate \| Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	14.5	11.0
Expected Volatility \| Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	60.0	67.0
Expected Volatility \| Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	69.0	79.0
Risk-Free Interest Rate \| Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	3.12	2.51
Risk-Free Interest Rate \| Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	3.34	2.78

Fair Value Measurement - Summary of Changes in Estimated Fair Value of LEO Call Option (Details) - LEO Call Option $ in Thousands	9 Months Ended
	Sep. 30, 2019 USD ($)
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 3,009
Change in fair value upon remeasurement recognized in other (income) expense	1,012
Ending balance	$ 4,021

Cash Equivalents and Marketable Securities - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Sep. 30, 2019
Cash And Cash Equivalents [Line Items]
Securities collateral by deposits percentage required by the accounting policy		102.00%
Securities collateral by deposits percentage maintained by a third-party custodian		102.00%
Money market funds	$ 395,800
Marketable securities	0
Realized gains or losses on available-for-sale securities	$ 0
U.S. Treasury Securities \| Maximum
Cash And Cash Equivalents [Line Items]
Received repurchase agreement		$ 0

Cash Equivalents and Marketable Securities - Schedule of Cash Equivalent and Marketable Securities Classified as Available-for-Sale (Details) $ in Thousands	Sep. 30, 2019 USD ($)
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis Cash Equivalents	$ 356,581
Total cash equivalents	356,581
Amortized Cost Basis	554,395
Unrealized Gains	175
Unrealized Losses	(23)
Fair value	554,547
Money Market Funds
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis Cash Equivalents	256,581
Total cash equivalents	256,581
Repurchase Agreements
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis Cash Equivalents	100,000
Total cash equivalents	100,000
Short-term Marketable Securities
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis	122,025
Unrealized Gains	62
Unrealized Losses	(7)
Fair value	122,080
Short-term Marketable Securities \| Commercial Paper
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis	65,280
Fair value	65,280
Short-term Marketable Securities \| Corporate Debt Securities
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis	56,745
Unrealized Gains	62
Unrealized Losses	(7)
Fair value	56,800
U.S. Treasury Notes
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis	30,363
Unrealized Gains	48
Unrealized Losses	(5)
Fair value	30,406
Long-term Marketable Securities
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis	75,789
Unrealized Gains	113
Unrealized Losses	(16)
Fair value	75,886
Long-term Marketable Securities \| Corporate Debt Securities
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis	45,426
Unrealized Gains	65
Unrealized Losses	(11)
Fair value	$ 45,480

Balance Sheet Components - Summary of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Prepaid Expense And Other Assets Current [Abstract]
Prepaid clinical and research related expenses	$ 8,750	$ 7,087
Other current assets	13,352	2,050
Total prepaid expenses and other current assets	$ 22,102	$ 9,137

Balance Sheet Components - Summary of Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Accrued Liabilities Current [Abstract]
Accrued professional services	$ 1,570	$ 772
Accrued other liabilities	3,219	1,328
Total other accrued liabilities	$ 4,789	$ 2,100

Variable Interest Entities and Voting Interest Model - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended			3 Months Ended		9 Months Ended
	Sep. 30, 2019	Jul. 31, 2019	May 31, 2019	Sep. 30, 2019	Jun. 30, 2018	Sep. 30, 2019
Common Stock
Variable Interest Entity [Line Items]
Shares issued				23,575,000	8,455,861
ML Bio
Variable Interest Entity [Line Items]
Preferred stock, value	$ 7.0
Variable Interest Entity, Primary Beneficiary \| Eidos \| Common Stock
Variable Interest Entity [Line Items]
Shares issued	556,173
BridgeBio Pharma LLC \| Variable Interest Entity, Primary Beneficiary \| Eidos
Variable Interest Entity [Line Items]
Voting shares						50.00%
Purchase of common stock, shares		882,353	1,103,848
Common stock, value		$ 26.4	$ 28.6
BridgeBio Pharma LLC \| Variable Interest Entity, Primary Beneficiary \| ML Bio
Variable Interest Entity [Line Items]
Investments						$ 7.0
BridgeBio Pharma LLC \| Variable Interest Entity, Primary Beneficiary \| QED Therapeutics, Inc
Variable Interest Entity [Line Items]
Investments						80.0
BridgeBio Pharma LLC \| Variable Interest Entity, Primary Beneficiary \| Origin Biosciences, Inc.
Variable Interest Entity [Line Items]
Investments						24.0
BridgeBio Pharma LLC \| Variable Interest Entity, Primary Beneficiary \| Aspa
Variable Interest Entity [Line Items]
Investments						11.6
BridgeBio Pharma LLC \| Variable Interest Entity, Primary Beneficiary \| Adrenas Therapeutics, Inc
Variable Interest Entity [Line Items]
Investments						11.6
BridgeBio Pharma LLC \| Variable Interest Entity, Primary Beneficiary \| Phoenix Tissue Repair, Inc (“PTR”)
Variable Interest Entity [Line Items]
Investments						7.0
BridgeBio Pharma LLC \| Variable Interest Entity, Primary Beneficiary \| CoA Therapeutics, Inc
Variable Interest Entity [Line Items]
Investments						5.1
BridgeBio Pharma LLC \| Variable Interest Entity, Primary Beneficiary \| Theras
Variable Interest Entity [Line Items]
Investments						5.0
BridgeBio Pharma LLC \| Variable Interest Entity, Primary Beneficiary \| Venthera, Inc.
Variable Interest Entity [Line Items]
Investments						4.5
BridgeBio Pharma LLC \| Variable Interest Entity, Primary Beneficiary \| Ferro Therapeutics, Inc.
Variable Interest Entity [Line Items]
Investments						4.5
BridgeBio Pharma LLC \| Variable Interest Entity, Primary Beneficiary \| Navire Pharma, Inc
Variable Interest Entity [Line Items]
Investments						4.5
BridgeBio Pharma LLC \| Variable Interest Entity, Primary Beneficiary \| Orfan Biotech, Inc
Variable Interest Entity [Line Items]
Investments						3.5
BridgeBio Pharma LLC \| Variable Interest Entity, Primary Beneficiary \| Molecular Skin Therapeutics, Inc
Variable Interest Entity [Line Items]
Investments						1.4
BridgeBio Pharma LLC \| Variable Interest Entity, Primary Beneficiary \| Quartz Therapeutics, Inc
Variable Interest Entity [Line Items]
Investments						$ 0.4

Variable Interest Entities and Voting Interest Model - Summary of Assets and Liabilities for Consolidated VIEs (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018
Current assets:
Cash and cash equivalents	$ 413,973	$ 436,086	$ 211,725
Prepaid expenses and other current assets	22,102	9,137
Total current assets	558,155	445,223
Property and equipment, net	2,984	1,575
Other assets	2,598	1,093
Total assets	640,530	464,941
Current liabilities:
Accounts payable	10,270	13,509
Accrued compensation and benefits	7,580	4,047
Accrued research and development liabilities	13,198	8,915
Accrued other liabilities	3,219	1,328
Total current liabilities	39,858	32,577
Other liabilities	1,388	495
Total liabilities	116,263	87,579
BridgeBio Pharma, Inc. \| Variable Interest Entity, Primary Beneficiary
Current assets:
Cash and cash equivalents	69,233	32,495
Prepaid expenses and other current assets	12,395	5,976
Total current assets	81,628	38,471
Property and equipment, net	1,583	1,259
Other assets	349	76
Total assets	83,560	39,806
Current liabilities:
Accounts payable	5,092	9,291
Accrued compensation and benefits	4,422	2,553
Accrued research and development liabilities	8,540	6,596
Accrued other liabilities	1,469	388
Total current liabilities	19,523	18,828
Other liabilities	187	179
Total liabilities	19,710	19,007
BridgeBio Pharma, Inc. \| Adrenas \| Variable Interest Entity, Primary Beneficiary
Current assets:
Cash and cash equivalents	793	3,046
Prepaid expenses and other current assets	1,261	665
Total current assets	2,054	3,711
Property and equipment, net	631	584
Other assets		7
Total assets	2,685	4,302
Current liabilities:
Accounts payable	350	1,876
Accrued compensation and benefits	466	377
Accrued research and development liabilities	927	227
Accrued other liabilities	270	28
Total current liabilities	2,013	2,508
Total liabilities	2,013	2,508
BridgeBio Pharma, Inc. \| Aspa \| Variable Interest Entity, Primary Beneficiary
Current assets:
Cash and cash equivalents	904	4,259
Prepaid expenses and other current assets	2,811	1,722
Total current assets	3,715	5,981
Property and equipment, net	292	129
Total assets	4,007	6,110
Current liabilities:
Accounts payable	320	1,187
Accrued compensation and benefits	49	30
Accrued research and development liabilities	915	728
Accrued other liabilities	274	32
Total current liabilities	1,558	1,977
Total liabilities	1,558	1,977
BridgeBio Pharma, Inc. \| PTR \| Variable Interest Entity, Primary Beneficiary
Current assets:
Cash and cash equivalents	6,782	6,934
Prepaid expenses and other current assets	662	28
Total current assets	7,444	6,962
Property and equipment, net	71	88
Other assets	1	41
Total assets	7,516	7,091
Current liabilities:
Accounts payable	131	621
Accrued compensation and benefits	368	287
Accrued research and development liabilities	93
Accrued other liabilities	8	8
Total current liabilities	600	916
Total liabilities	600	916
BridgeBio Pharma, Inc. \| QED \| Variable Interest Entity, Primary Beneficiary
Current assets:
Cash and cash equivalents	24,084	8,630
Prepaid expenses and other current assets	5,060	3,240
Total current assets	29,144	11,870
Property and equipment, net	310	181
Other assets	348
Total assets	29,802	12,051
Current liabilities:
Accounts payable	1,893	3,537
Accrued compensation and benefits	2,249	1,392
Accrued research and development liabilities	2,380	4,390
Accrued other liabilities	677	229
Total current liabilities	7,199	9,548
Other liabilities	163	150
Total liabilities	7,362	9,698
BridgeBio Pharma, Inc. \| Venthera \| Variable Interest Entity, Primary Beneficiary
Current assets:
Cash and cash equivalents	3,113	2,913
Prepaid expenses and other current assets	222
Total current assets	3,335	2,913
Total assets	3,335	2,913
Current liabilities:
Accounts payable	600	333
Accrued compensation and benefits	37
Accrued research and development liabilities	271
Accrued other liabilities	2	9
Total current liabilities	910	342
Total liabilities	910	342
BridgeBio Pharma, Inc. \| All Other \| Variable Interest Entity, Primary Beneficiary
Current assets:
Cash and cash equivalents	33,557	6,713
Prepaid expenses and other current assets	2,379	321
Total current assets	35,936	7,034
Property and equipment, net	279	277
Other assets		28
Total assets	36,215	7,339
Current liabilities:
Accounts payable	1,798	1,737
Accrued compensation and benefits	1,253	467
Accrued research and development liabilities	3,954	1,251
Accrued other liabilities	238	82
Total current liabilities	7,243	3,537
Other liabilities	24	29
Total liabilities	$ 7,267	$ 3,566

Noncontrolling Interests - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Noncontrolling Interest [Abstract]
Adjustments of carrying value of noncontrolling interest additional paid-in capital	$ 13.5	$ 2.3	$ 41.9	$ 57.8

Noncontrolling Interests - Schedule of Redeemable Convertible Noncontrolling Interests Balance (Details) - USD ($)
$ in Thousands

3 Months Ended

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

$ 122

Redeemable Convertible Noncontrolling Interests

$ 2,570

Redeemable Noncontrolling Interest [Line Items]

Issuance of redeemable convertible noncontrolling interest

175

$ 202

122

^[1]

$ 3,192

$ 1,550

$ 833

^[2]

3,196

Net loss attributable to redeemable convertible noncontrolling interest

(635)

(685)

(790)

(2,355)

(3,618)

(3,614)

(166)

658

870

(41,450)

(11,286)

Orfan Biotech, Inc | Redeemable Convertible Noncontrolling Interests

2,570

175

202

$ 912

$ 3,192

$ 1,550

Redeemable Noncontrolling Interest [Line Items]

Net loss attributable to redeemable convertible noncontrolling interest

(37)

(23)

(34)

(1)

QED Therapeutics, Inc | Redeemable Convertible Noncontrolling Interests

Redeemable Noncontrolling Interest [Line Items]

Net loss attributable to redeemable convertible noncontrolling interest

120

171

114

(509)

(662)

(756)

891

611

813

ML Bio | Redeemable Convertible Noncontrolling Interests

502

$ 120

$ 171

Redeemable Noncontrolling Interest [Line Items]

Issuance of redeemable convertible noncontrolling interest

3,196

Net loss attributable to redeemable convertible noncontrolling interest

(89)

(1,056)